Bayern Munich announce record turnover of $664m
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.