Bundesliga champions Bayern Munich have announced the setting of a new financial record, having amassed €640m in revenue during the 2016/17 season.
The Bavarian side also announced a pre-tax profit increase of 22.2%, taking the sum to €66.2m, as well as post-tax profits of €39.19, an 18.6% increase.
The club's chief financial officer Jan-Christian Dreesen, speaking via their website, revealed that Bayern were still able to manage the substantial turnover despite losing €25m as a result of not making it past the quarter-final stage of the Champions League.
"Our failure to progress beyond the quarter-final of the Champions League against Real Madrid and not reaching the DFB Cup final cost us around €25 million," he explained.
"However, we were still able to make gains and remain one of the top clubs in Europe financially. What is more important than the increase in revenue is that our profit margin has increased.
"In this regard we saw double-digit improvements in all important indicators. Revenue streams remain even, which leaves us confident going forward independent of any dependencies.”
Club chairman Karl-Heinz Rummenigge also outlined the club's ambitions, indicating that Bayern want to lift the Bundesliga for a sixth straight time, while making strides in the Champions League.
“We want to be German champions, and we also want to compete for the Champions League title," said the chairman.
"For the 2017/18 season, FC Bayern “spent €100 million on new players, which is a lot of money from our perspective. We have a clear strategy and philosophy, which we continue to implement.”