Bayern leaves pandemic problems behind and registers record profits

2023-11-12 17:13:04

MUNICH (AP) — Bayern Munich emerged from the crisis due to the coronavirus pandemic in good financial health following reporting record profits of 854.2 million euros ($913 million) in the 2022-23 season.

The previous record was 750.4 million euros ($802 million) in the 2018-19 campaign.

Bayern’s financial director Michael Diederich said that “this is equivalent to an increase of 30%” compared to the previous year and described it as “an extraordinary achievement.”

Bayern had recorded record profits every year since 2015 until the COVID-19 pandemic began and led to a crisis.

Diederich said the net increase in profits was 35.7 million euros ($38 million), an increase from 23 million euros the previous season.

“Everything we earn is invested in sports,” said Diederich. “For us, the first and most important thing is always sport. Our commitment is to be the best in the league domestically and internationally. Our best return on investment is titles.”

Bayern won its 11th consecutive Bundesliga title last season.

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