Bayern Munich announce record profits and turnover for 2016-17 season
Top of the Bundesliga, through to the knockout stages of the Champions League now Bayern Munich have announced record profits and turnover for the 2016-17. They say it'll allow them to invest in the squad.
The reigning champions announced turnover of €640 million ($758 million) and after-tax profit of $39 million ahead of Friday night's annual assembly.
The club's statement added that operating profit had reached 150 million euros and that the after-tax profit had risen by 18.6 per cent compared to the previous season before promising to spend on players.
"The outstanding profit situation and the associated increase in financial power allows FC Bayern to make the investment in our first-team squad necessary to ensure we remain competitive among the professional footballing elite in Europe," deputy chairman Jan-Christian Dreesen said.
"Our commercial endeavours primarily serve the single objective of maximizing our sporting success."
Robert Lewandowski has questioned his club's transfer policy
Those words will be music to the ears of Robert Lewandowski who has openly questioned the club's transfer policy this season and to fans keen for the German giants to be able to compete with big spending clubs elsewhere in Europe.
A backup for Lewandowski may well be one of Bayern's priorities, with the Polish striker, the club's only recognised out-and-out frontman.
Earlier this year, club officials refused to rule out future big investments in the region of 100 million euros, but said that was not likely to be spent on a single player. The club's current transfer record was set in pre season, when they spent €41.5 million on Corentin Tolisso, who scored the winner in Wednesday's victory over Anderlecht.