Bayern Munich, the German soccer giants, have posted record revenue and a “significant” year-on-year increase in profit for the 2022-23 financial year.

The club’s total revenue for the 2022-23 season came in at €854.2 million ($915.1 million), while earnings before taxes more than tripled, rising from €17.1 million to €54.5 million.

As a result, Bayern’s net profit for the year rose to €35.7 million, an increase of €23 million compared to the previous season.

The German heavyweights, who won an 11th consecutive Bundesliga title last season, posted revenue of €665.7 million in the prior 2021-22 campaign.

Bayern generated commercial revenue of around €246 million in 2022-23.

Michael Diederich, Bayern vice-chairman, said: “In a difficult economic environment characterized by inflation and a recession in Germany, we have achieved a record turnover and a significant increase in profitability compared to the previous season.

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“This result demonstrates our financial strength and raises our equity to a new record level. At the same time, FC Bayern remains debt-free – an exceptional feat in European top-flight football and a further sign of our financial independence.

“With the support of our partners, we were able to achieve significant increases in marketing revenue in sponsorship and merchandising in the past financial year.”

Meanwhile, at the Bundesliga side’s annual general meeting yesterday (November 13), long-time chief marketing officer Andreas Jung (pictured) announced he will be departing at the end of the season.

The 61-year-old, who has been at Bayern for 27 years, will not extend his contract when it expires next year.

Jung will continue in the role until June 30, 2024. The club said a decision will be made in due course regarding his successor.

During almost three decades at the club, Jung has been responsible for securing many lucrative partnerships with major brands such as Deutsche Telekom, adidas, Audi, and Allianz, and making Bayern one of the leading clubs in European soccer in terms of marketing revenue.

During his time in charge of sponsorship, partner sales grew from around €13 million in 1996 to €246 million in the last financial year, the club said.

Jung joined Bayern in 1996 from the German Cycling Federation, where he was managing director of the Mountain Bike World Championships.

Having initially held the position of head of department and then director of sponsoring and events, in 2010 he was appointed deputy board member, and in 2012 he was named as a board member for marketing.

In this role, he is currently responsible for the corporate partnerships and marketing departments. He is also responsible for the club’s overseas offices (New York, Shanghai, and Bangkok) and the marketing of the home Allianz Arena venue.

In addition, Jung is a spokesman for the marketing and sponsorship commission of the German Football League (DFL) and president of the Association of Sports Sponsorship Providers. He is also a member of the supervisory board of DFL International and a member of the advisory board of Deutsche Sport Marketing.

Bayern president Herbert Hainer said: “Andreas has been responsible for our sponsorship since 1996 and during this time has shaped the club into one of Europe's leaders in the field of marketing.

“Without this income, we would not have been able to establish ourselves at the very top of European football. He has also organized hundreds of events, from title celebrations to Champion League finals. His commitment, innovative strength, and loyalty are outstanding, and we all appreciate his reliability, his straightforwardness, and his open, always friendly character.”

Jung added: “The 27 years I have spent at FC Bayern have been fantastic. FC Bayern has grown enormously in these years, from less than 100 employees to over a thousand, and marketing revenue has increased almost 20-fold. I am happy and grateful that I was able to witness this and play my part in it.”

Jung discussed Bayern's commercial strategy in a recent interview with GlobalData