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Bayern Munich reports loss
Germany - 20 December, 2004
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The 1.Bundesliga club has announced a preliminary loss of Eu3.4m for the year ended 30 June 2004, compared to a profit of Eu400,000 in the year before. The loss reported is despite an operating profit of Eu22.9m, and mainly due to payment of back taxes to the German Revenue Service. Turnover reported Eu166.3m, a slight increase from last year’s Eu162.7m. The club’s current levels of membership are 97,810 members and directors are expressing confidence that the club would soon break the 100,000 member barrier.
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