Borussia Dortmund chief executive officer Hans-Joachim Watzke, 64, will not extend his contract, which expires the end of 2025, and will step down from management in the autumn of next year.

Watzke made the announcement this Monday in Marbella, Spain, where BVB are currently holding their winter training camp.

Watzke had previously informed the Executive Committee of the Advisory Board of Borussia Dortmund Geschäftsführungs-GmbH, chaired by President Reinhold Lunow, of his decision and also made a request to the committee that he be relieved of his overall responsibility for sporting matters by 30 June 2024 at the latest in order to prepare for the smoothest-possible transition.

The Executive Committee has granted Watzke's request and asked him to put together and present proposals for a succession plan for the sporting division.

During a press conference at Hotel Gran Melia Don Pepe, Watzte said: "Next year, I'll have been in office for 20 years. I've increasingly been feeling that the point has come where I say: enough is enough at some point." The chief executive officer went on to say: "I wanted to make it public early on in order to preside over the transition over the next year and a half. This is the right time to draw any conclusions. It was important to me that I could announce my departure from this role in a self-determined manner. I'm very grateful to my club for giving me the opportunity all these years. I consider it a great privilege to have always felt the trust."