Peter Pander – The Peter Principle: In April 2005, Gladbach appointed Peter Pander as the successor to the resigned sporting director Christian Hochstätter. Pander was responsible for the then-most expensive transfer in club history, bringing in Argentine flop Federico Insúa for an estimated 4.5 million euros. He had done business that way at Wolfsburg, and Borussia quickly turned from a club famed for developing talent into a footballing department store.\n\nDespite expensive signings and multiple coaching changes, the success never came.
By March 2007, Pander was gone — but by then it was too late. Borussia won only twice and drew four of the final 15 games of the 2006/07 campaign.\n\nThat was that: the club were financially spent and back in the second division for the second time.
