Borussia Dortmund CEO Hans-Joachim Watzke extends contract until 2022

Borussia Dortmund CEO Hans-Joachim Watzke has signed a new contract until 2022, the club have announced.

Watzke, who has been in charge since 2005, had been under contract until the end of 2019 but has now agreed new terms.

Finance executive Thomas Tress also renewed his contract with the club until June 2022.

"The extraordinary sporting and economical development Borussia Dortmund has taken since 2005 is wedded to Hans-Joachim Watzke's work and that of his fellow executive Thomas Tress," club president Reinhard Rauball told the club's official website. "Borussia Dortmund banks on continuity."

Following a turbulent first half of 2017, Watzke told Der Spiegel in the summer that he was considering stepping down if Dortmund lost the DFB Pokal final to Eintracht Frankfurt.

However, Dortmund lifted the trophy and in December Watzke said he could imagine staying "if Reinhard Rauball wants me."

This season, BVB are set to post a turnover in excess of €500 million for the first time following Ousmane Dembele's move to Barcelona and Pierre-Emerick Aubameyang's departure for Arsenal.

Watzke joined the club at a time when they were facing bankruptcy and steered them into safer waters before helping them win back-to-back Bundesliga titles and reach the 2013 Champions League final.

Dortmund also appointed Carsten Cramer as a third executive. He had previously acted as a director and from March 1 on will become the club's marketing and digitalisation executive.