Borussia Dortmund's team bus was attacked ahead of the team's Champions League quarterfinal first leg against Monaco on Tuesday.
In a late-night press conference, Dortmund Police Chief Gregor Lange said the team appeared to have been targeted by the explosions, the Associated Press reported.
The explosions occurred shortly after 6pm BST while the bus was leaving the L'Arrivee Hotel and Spa and heading to the stadium for the quarter-final tie, which has been postponed until 5.45pm BST on Wednesday.
Dortmund goalkeeper Roman Buerki said the team bus had just pulled out of the hotel driveway when an explosion - a "huge bang" - happened and sent glass flying.
FIFA, the worldwide soccer association, said it was waiting for more details about the attack.
"We have been preparing for this for a long time".
The team identified the player injured in the explosion as Marc Bartra, who plays center-back.
Another suspicious object, believed to be a hoax bomb, was found near the team's hotel.
It came days after devices were detonated outside the Stade de France in Paris as France was playing Germany as part of a co-ordinated attack on the French capital.
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"I do not want to suggest that this was a terrorist attack", Lange said, according to Reuters.
Lucke said: "The investigation is being carried out based on suspicion of attempted murder".
The team later said Bartra was in surgery for a broken bone in his hand.
Police revealed that a letter claiming responsibility for the blasts had been found at the crime scene and was being examined in order to ascertain its authenticity. "I think the team will feel it tomorrow".
German news media reports citing unnamed sources said a note found at the scene contained radical Islamic rhetoric but that police were unsure whether that was genuine or an attempt to throw them off the track.
Bartra, 26, joined Dortmund for 8 million euros ($8.5 million) a year ago from Barcelona, after coming through the Catalan club's youth system.
"Due to tonight's incident, the UEFA Champions League match between Borussia Dortmund and AS Monaco has been postponed until Wednesday at 18:45CET", UEFA, European soccer's governing body, said in a statement.
"We must now try to process the shock", Borussia Dortumnd owner Hans-Joachim Watzke said in a statement.
Inside the packed stadium, supporters of Monaco, which plays in the French league, chanted "Dortmund, Dortmund" in sympathy for the German side.
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