By 90Min
December 02, 2018

Bayern Munich have announced that their turnover rose to €657.4m (£583.4m) for the financial year covering the 2017-18 season.

The Bavarian giants registered a profit before tax of €46.2m (£41m) and said their annual net profit of €29.5m (£26.2m) after tax is the third-highest in their 118-year history.

The news comes as the German champions have been struggling on the pitch under Niko Kovač. Bayern beat Werder Bremen 2-1 on Saturday as the embattled champions finally notched their first win from four Bundesliga attempts.

Bayern, who are chasing a record-extending seventh straight Bundesliga title, are now nine points behind leaders Borussia Dortmund. But the financial news from will do little to reassure Bayern fans who want to see more points than profits.

Stuart Franklin/GettyImages

"Our FC Bayern rests on very solid foundations," said club deputy chairman Jan-Christian Dreesen, as quoted in the Daily Mail.

"This ever-increasing financial power allows us to make the necessary investment in our first-team squad to ensure we remain competitive among the footballing elite in Europe."

TF-Images/GettyImages

The figures are driven by income from sponsorship and marketing (€189.4m), match operations (€172.7m), merchandising (€91.8m) and transfer fees (€28.2m).

The club's biggest expense was personnel costs at €302.5m, up from €264.9m last year.

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