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).