Bayern Munich Announces Profit For Third Pandemic Year In A Row

SportsMoney Bayern Munich Announces Profit For Third Pandemic Year In A Row Manuel Veth Contributor Opinions expressed by Forbes Contributors are their own. Following New! Follow this author to stay notified about their latest stories. Got it! Oct 15, 2022, 02:54pm EDT | New! Click on the conversation bubble to join the conversation Got it! Share to Facebook Share to Twitter Share to Linkedin Bayern Munich CEO Oliver Kahn at his club’s AGM on Saturday.

Despite the pandemic, Bayern for the . . .

[+] third year in a row announced a profit. . (Photo by Stefan Matzke – sampics/Corbis via Getty Images) Corbis via Getty Images Bayern Munich has once again announced a positive financial year.

Germany’s biggest club announced a turnover of €665. 7 million ($647. 13m) and a profit before tax of €17.

1m ($16. 2m), up from last year’s profit of €5m ($4. 86m).

The financial result means that Bayern remains the only club in the Bundesliga to make a profit in all three years affected by the COVID-19 pandemic. Furthermore, with the Bundesliga opening its doors to fans during the second half of the 2021/22 season, the club also managed to increase its turnover by €21. 8m ($21.

19m) compared to last year. “This is a strong result,” CFO CFO Jean-Christian Dreesen said in a club statement. There is hardly any other top European club that, like FC Bayern, has been able to report consistent profits over the past three years despite the pandemic.

” Although the club made a profit throughout the pandemic, the financial numbers were trending down. That course has now been reversed, and the club anticipates a further increase in turnover in the ongoing season. Bayern also announced at the annual general meeting that among Europe’s major clubs, they, together with Real Madrid, were the only club to make a profit throughout the pandemic.

“It’s amazing that, despite the competitive disadvantage in terms of TV money, we put a powerful team on the pitch every year that the whole of Europe respects,” Dreesen said at the AMG. “We have set new records in each of the past three years. I’m very proud of all of us.

” MORE FOR YOU They Inherited Billions Upon Billions: Meet America’s Richest Heirs BMW And Nikita Gale’s Immersive Artwork At Frieze London Explores Sound When Should You Get The New Bivalent Covid-19 Vaccine Booster? Backed by the club’s solid financial numbers, Bayern Munich put together a strong transfer window spending $151. 25m on new players—which ranks the club among the top ten biggest spenders this last summer. But the club’s transfer window also underlines Bayern’s financial strategy as they also earned $114.

51m in transfer sales. “That mainly has to do with FC Bayern’s DNA: we never spend more than we earn,” Dreesen said. “All of our employees played their part in the successful conclusion of the past financial year.

” Added club president Herbert Heiner: “FC Bayern is completely debt-free, and what’s more: we own 100% of the Allianz Arena and the FC Bayern Campus; everything is paid off. ” Another positive number has been the club’s increase in membership. Bayern Munich now has 295,000 members, making them the biggest membership club on the planet.

With 295,000 members, Bayern Munich remains the biggest membership club on the planet (Photo by . . .

[+] Alexander Hassenstein/Getty Images) Getty Images Furthermore, with pandemic restrictions lifted, Bayern Munich anticipates a further increase in revenue for the 2022/23 season. “We will very likely be able to achieve a new record turnover of at least 770 million euros in 2022/23,” Dreesen, who will leave the club at the end of the season, said at the AGM. “It’s amazing that, despite the competitive disadvantage in terms of TV money, we put a powerful team on the pitch every year that the whole of Europe respects.

We have set new records in each of the past three years. I’m very proud of all of us. ” That, however, does not mean that everything was positive at the club.

Many fans remain critical of the club’s continued partnership with Qatar Airways, and Bayern’s decision-makers were reluctant to make a statement regarding the sponsorship deal. “We will continue to discuss the topic intensively with our partner Qatar Airways after the World Cup,” Bayern Munich CEO Oliver Kahn said. “We will weigh everything, and then we will find a solution for FC Bayern.

” Bayern Munich earns €20m ($19. 4m) from the Qatar Airways deal. That is less than 10% of the €224.

2m ($217. 94m) revenue generated through sponsorship and marketing. “If you want to change or initiate something, you have to meet people, talk to them, and exchange ideas instead of excluding them,” Kahn said at the AGM.

“You have to listen, understand and explain. We’re doing that within our partnership with Qatar Airways. ” Overall, the Qatar Airways deal was less of a contentious issue at the AGM than last year when there was significant opposition to the agreement.

The club has launched an open dialogue with its fans and wants to come up with a positive solution. Still, ultimatelyy, the future of the contract will depend on whether Bayern can find an alternative sponsor willing to pay a similar amount. Manuel Veth is the host of the Bundesliga Gegenpressing Podcast and the Area Manager USA at Transfermarkt .

He has also been published in the Guardian, Newsweek, Howler, Pro Soccer USA, and several other outlets. Follow him on Twitter: @ManuelVeth Follow me on Twitter . Manuel Veth Editorial Standards Print Reprints & Permissions.