German football champions, FC Bayern München, announced its financial statement for the 2019/20 season, revealing the club suffered coronavirus-related downturns in both revenue and profit compared to the previous year.
- The Bundesliga Champions’ total revenue at the end of the fiscal year for the 2019/20 season amounted to €698.0million, which dropped about €50million compared to the €750million made on their turnover in the fiscal year of 2018/19 season.
- Operating profit before tax was down year-on-year (YOY) from €75.3 million to €17.0 million (EBT), and amounted to €9.8 million after tax.
- The Bundesliga giants also cited in their official statement that matches in the Allianz Arena have been played behind closed doors since March 2020, which resulted in a shortfall in planned income during the final third of the season.
FC Bayern CEO, Karl-Heinz Rummenigge said:
- “The coronavirus pandemic placed great strain on the whole of football in the 2019/20 season and, of course, FC Bayern was also affected. For example, we have had no spectators in the Allianz Arena since 08 March. Against this backdrop, both the revenue generated and the fact we were able to end the past season with a profit are positive. That was due not least to the outstanding successes achieved by our team.”
He also went on to thank his executive members for their cooperation during the difficult year. He said:
- “In addition to the bare figures, however, it is equally important to FC Bayern that we were able to focus on many social initiatives in this crisis. I would like to thank my colleagues on the executive board Jan-Christian Dreesen, Andreas Jung, Oliver Kahn, Hasan Salihamidžić and Jörg Wacker, as well as the entire supervisory board, led by Chairman Herbert Hainer for their good and trusting cooperation, especially in this difficult year.”
FC Bayern Executive Vice-Chairman Jan-Christian Dreesen said:
- “The effects of the coronavirus pandemic, however, are rather a huge challenge in the current season, and so we are assuming a considerable downturn in revenue for the 2020/2021 season, even in triple-digit millions, should we have to play matches behind closed doors for a long time. Of course, this will also be reflected in the operating profit. We are working with all our might to steer FC Bayern solidly through the crisis. I would like to thank my colleagues on the board, as well as the entire supervisory board for their helpful and trusting cooperation, especially in this challenging year, as well as all our employees for their great commitment.”