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German record Bundesliga champions FC Bayern Munich yesterday held its Annual General Meeting were former president Uli Hoeneß returned as club president after serving his time in jail for tax evasion and the club announced a record turnover of €626.8 million.
Uli Hoeneß, who had joined the club in 1970 as a player, begun a second term as FC Bayern president after receiving an overwhelming majority of 98.5 percent of the 7,152 members in attendance at the Audi Dome in Munich.
Hoeneß was greeted on arrival by a standing ovation and began his acceptance speech at 10.45pm local time by saying, “I promise I won’t disappoint you!”
Earlier the club, who won the German double of league and cup last season besides reaching the UEFA Champions League semifinals announced their impressive financial numbers, which have surpassed all previous figures for the 2015/16 fiscal year, announcing the best result in the club’s history.
The turnover figure for FC Bayern München AG group (consolidated accounts for FC Bayern München AG, Allianz Arena München Stadion GmbH and all other subsidiaries) surpasses the previous year’s €523.7 million by more than €100 million to a new best-mark of €626.8 million, an increase of about 20 percent. The operating profit (Ebitda) increased by an even greater margin, rising 28 percent from €111.3 million to €142.5 million.
“The 2015/16 fiscal year has been fantastic for FC Bayern, in terms of both sports and finances. Our members, staff and friends of the club can be very proud,” declared FC Bayern deputy chairman Jan-Christian Dreesen. Profit before tax rose to €53.9 million (2014/15: €31.4 million) and profit after tax stood at €33.0 million (2014/15: €23.8 million), “record profits” according to Dreesen and unprecedented in the 115-year history of the club. FC Bayern is thus in the black for the 24th year in a row.
“FC Bayern München is in outstanding shape, operating at the highest Champions League level in financial terms,” Dreesen stated. “Our FC Bayern is in a superb position. That’s been the case for the last few years, and that’s more than ever true for 2016! Our entrepreneurial objective is the maximisation of sporting success alongside financial prudence. Our increasing financial power will be used primarily to make the regular investments required in our first-team squad in order to ensure we remain competitive among the elite teams in Europe,” Dreesen added.
