Bay­ern Mu­nich an­nounce record turnover of $664m

Kuwait Times - - SPORTS -

BER­LIN:

Ger­man cham­pi­ons Bay­ern Mu­nich on Fri­day an­nounced record turnover for the 2015-16 fi­nan­cial year of 627 mil­lion euros (£533.3m; $664.6m), up by more than 100 mil­lion euros on the pre­vi­ous year. Bay­ern’s pre-tax prof­its also in­creased by around 30 per­cent, from 23.8 mil­lion euros in 2014-15 to 33 mil­lion euros. “Our en­tre­pre­neur­ial ob­jec­tive is the max­imi­sa­tion of sport­ing suc­cess along­side fi­nan­cial pru­dence,” said the club’s deputy chair­man Jan-Chris­tian Dreesen. “Our in­creas­ing fi­nan­cial power will be used pri­mar­ily to make the reg­u­lar in­vest­ments re­quired in our first­team squad in or­der to en­sure we re­main com­pet­i­tive among the elite teams in Europe.” While spend­ing on play­ers and staff rose by 33 mil­lion euros, the in­crease in rev­enue is largely down to in­come from spon­sor­ship and mar­ket­ing grow­ing from 113.9 mil­lion euros in 2014-15 to 169.8 mil­lion euros. In­come from tele­vi­sion rights mar­ket­ing was 83.4 mil­lion euros, “a rel­a­tively low fig­ure in in­ter­na­tional terms”, as the club said, but up from 58.3 mil­lion. —AFP

Group photo of the win­ners along with Khaled Al-Otaibi- Gulf Bank and Ab­dul­mohsen Al-Bab­tain- Head of the Kuwait In­ter­na­tional Jiu Jitsu Open or­ga­niz­ing com­mit­tee.

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