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Bayern in the black
Published : 19 Nov 2011 11:46:50
German league giants Bayern Munich have recorded profits for the 19th straight year, despite the Bavarian giants enduring a season without silverware last term.
Between July 1 2010 and June 30 this year, Bayern registered a turnover of 328.5 million euros, an operating profit of 62.3m euros and a profit after tax of 1.3m euros.
The figures come despite Bayern finishing third in the German league, being knocked out of the Champions League in the last sixteen and losing to rivals Schalke in the semi-final of the last season's German Cup.
"This result has been achieved despite the difficulty of the circumstances," Bayern's finance director Karl Hopfner told the club's Annual General Meeting on Friday.
"I would remind you that we enjoyed no major sporting success last year, and on top of that, we have the financial and Euro crisis. Despite all this, we have once again generated a profit."
Chief executive officer Karl-Heinz Rummenigge said the Bavarians were in "excellent commercial shape for the future".
Bayern are five points clear at the top of Bundesliga and host defending champions Borussia Dortmund on Saturday, while they are also leading Group A in the Champions League.
Munich have also extended the contracts of director of sport Christian Nerlinger and acting board director Andreas Jung by two years, until June 30, 2014.