Sports Business : Bayern Munich loses $60Mn in revenues due to impact of Covid-19

Sports Business – Bayern Munich lo Europe’s most successful football club in 2020, Bayern Munich have revealed significant drops in revenue and profit as their finances for the 2019/20 season were hit by the coronavirus pandemic.

The Bundesliga club’s total revenue stood at US$842.7 million at the end of the fiscal year, down more than US$60.3 million vis a vis their turnover of $906.1 Mn for the 2018/19 campaign.

Bayern also were down 81% in their Operating profit.

The Bundesliga at large has seen its finances heavily dented by the pandemic and German Football League (DFL) chief Christian Seifert said earlier this month that the competition faces a $2.4 billion loss over two years if fans are not allowed to attend for the entire 2020/21 season.

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Bayern said in an official statement that their latest financial results can still be viewed ‘in a positive way’ given that the health crisis resulted in a significant shortfall in planned income during the final third of the season.

Karl-Heinz Rummenigge, Bayern’s chief executive, added: “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.”

Despite the impact of the pandemic, the 2019/20 season was a landmark one for Bayern, who won a historic treble after defending their Bundesliga and DFB Pokal titles and winning the Uefa Champions League for the first time since 2013.