Borussia Dortmund GmbH shares fell by the most on record after the football club missed out on the Bundesliga title, with perennial winners Bayern Munich overtaking it to snatch victory in the weekend’s final round of fixtures.

Dortmund began Saturday atop Germany’s premier football league, needing a home victory over Mainz to be certain of clinching their first championship since the 2011-12 season. But they could only draw 2-2, while Bayern scored a last-gasp winning goal at Cologne in a dramatic climax to the season.

Dortmund shares tumbled by as much as 32% in Frankfurt trading Monday, the sharpest drop since their debut in November 2000. They were 29% lower by 10:36 a.m. Shares in the German football club soared 31% last week as investors anticipated a high probability of it being crowned this season’s champions.

For Bayern, it was an 11th consecutive Bundesliga title and the 33rd overall. Despite becoming champions, Bayern this weekend replaced its chief executive officer after the team failed to progress beyond the quarter-finals of the Champions League, the ultimate prize in European club football.

--With assistance from Jan-Patrick Barnert.