Bayern announces record turnover of 640.5M euros

MUNICH (AP) - Bayern Munich has broken its own financial records for revenue again.

The Bundesliga powerhouse announced at its AGM on Friday turnover of 640.5 million euros ($759 million) and operating profit of 149.1 million euros ($177 million) for the 2016-17 season.

The Bayern group's profit before tax increased by 22.2 percent to 66.2 million euros ($78.5 million) - 39.2 million ($46.5 million) after tax - despite the team's Champions League exit at the quarterfinal stage and failure to reach the German Cup final last season.

Bayern deputy chairman Jan-Christian Dreesen says, "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."

Match revenue brought 154.3 million euros ($183 million) to the club, sponsorship and marketing another 169.4 million ($201 million), media marketing 90.1 million ($107 million), and player transfers 52.6 million euros ($62 million).

Personnel expenditure for all employees of the Bayern group - not just the players - was 264.9 million euros ($314 million).