Football
Associated Press 8y

Bayern Munich report record profits at annual general meeting

MUNICH --Bayern Munich made a record profit after tax of €23.8 million euros ($25.2 million) last season, the club announced at its annual general meeting on Friday.

Bayern said they had a turnover of €523.7 million euros ($555 million) for the financial year 2014-15, slightly below that of the previous year.

It's the second consecutive year that Bayern have had turnover of over half a billion euros. The club earned five million more the previous season due to the team's participation in the Club World Cup and UEFA Super Cup.

"Maximum sporting success with financial solidity -- that's our maxim," Bayern deputy chairman Jan-Christian Dreesen said.

Match income was a total of €137.6 million ($146 million) as they competed in the Champions League, German Cup and Bundesliga -- which the club won for a third straight year -- as well as friendly matches.

Sponsorship and marketing provided another €113.9 million ($121 million), merchandising including jersey sales provided €101.7 million ($107.7), while domestic TV and radio contributed €58.3 million ($61.8 million).

Salaries were the biggest expense at €227.3 million euros ($241 million).

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