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Bayern Munich continues to preduce profits
Germany - 23 November, 2006
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German Bayern Munich will spend up to EUR 30 million for one great player after making a profit for the 14th year in a row.
At its annual meeting, Bayern said it has funds of EUR 94.8 million with record earnings of EUR 204.7 million for the 2005-06 season, making a profit of EUR 4.8 million.
"But what is important is the question of what kind of player are we getting for EUR 30 million? Who should that be?" asked Franz Beckenbauer, president of Bayern.
Beckenbauer won a fifth term with 98 percent of the vote from 1,987 delegates.
Bayern had its worst Bundesliga start in 32 years after losing German captain Michael Ballack to Chelsea this season.
One reason the club had such good earnings is that Bayern attracted 1.6 million fans at its new stadium, Allianz Arena, which is 500,000 more fans than the previous season at the Olympiastadion.
Bayern earned EUR 62.4 million from its sponsors even though it doesn't receive proceeds from television rights that other European leagues receive.
"With that money we are again the leader worldwide," said Karl-Heinz Rummenigge, chairman of Bayern.
Bayern bought out Munich's share of the Allianz Arena and feels there will be a bigger profit once it is paid for.
At its annual meeting, Bayern said it has funds of EUR 94.8 million with record earnings of EUR 204.7 million for the 2005-06 season, making a profit of EUR 4.8 million.
"But what is important is the question of what kind of player are we getting for EUR 30 million? Who should that be?" asked Franz Beckenbauer, president of Bayern.
Beckenbauer won a fifth term with 98 percent of the vote from 1,987 delegates.
Bayern had its worst Bundesliga start in 32 years after losing German captain Michael Ballack to Chelsea this season.
One reason the club had such good earnings is that Bayern attracted 1.6 million fans at its new stadium, Allianz Arena, which is 500,000 more fans than the previous season at the Olympiastadion.
Bayern earned EUR 62.4 million from its sponsors even though it doesn't receive proceeds from television rights that other European leagues receive.
"With that money we are again the leader worldwide," said Karl-Heinz Rummenigge, chairman of Bayern.
Bayern bought out Munich's share of the Allianz Arena and feels there will be a bigger profit once it is paid for.
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