Bayern Munich’s finances for the 2019/20 season has taken a major hit due to the coronavirus pandemic. The current Champions League holders have revealed significant drops in their revenue and profit.
The Bundesliga club’s turnover for the 2018/19 campaign was $906.1 Mn whereas the earnings for the 2019/20 campaign stood at US$842.7 million at the end of the fiscal year, down more than US$60.3 million.
As far as the Operating profit is concerned, Bayern were down 81% there too.
The pandemic has heavily taken down the finances of the Bundesliga and German Football League (DFL) chief Christian Seifert stated that if fans are not allowed to attend for the entire 2020/21 season, the league faces a loss of $2.4 billion over two years.
An official statement from the club said that their latest financial results can still be taken ‘in a positive way’ considering the fact that the health crisis came as a major blow to the planned income during the final third of the season.
Bayern’s chief executive, 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 8th 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. 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.”