Menu
Download the app

SBJ subscribers – Enhance your experience with the revamped iOS app

Finance

Bayern Munich's Annual Turnover Of $529M Best In 113 Years, Reduces President To Tears

Bayern Munich President Uli Hoeness, facing trial for tax evasion next year, "broke down in tears as the club posted their best financial results in 113 years," according to Karolos Grohmann of REUTERS. Hoeness, who "received several standing ovations, could not hold back his tears as club bosses heaped praise on him following a treble-winning season." Turnover stood at €393M ($529M), up from €332M in '11-12. When turnover for the Allianz Arena Stadium Ltd. was "taken into account," the club said at its annual general assembly that the figure cracked the €400M ($538.7M) mark for the first time and stood at €432.8M ($583M). Hoeness, at the club for "more than 40 years as player, manager and president, addressed his legal woes, saying he had made a mistake in relation to a Swiss bank account." Hoeness: "I made a big mistake by not having investment income abroad taxed. I did not take hundreds of millions out of the country. I will face this mistake" (REUTERS, 11/14). The DEUTSCHE WELLE reported Bayern said its group operating profit rose 11% to €95.6M ($128.8M), with net profit increasing 30% to €14M ($19M). Shareholder dividends "will also be a record" €8.25M ($11.1M), or "30 cents per share." The club also "announced a dramatic increase in sponsorship and marketing revenues," which jumped to €102M ($137.4M) compared to €82M last season. Club membership, "already the highest of any team in Germany, swelled from 195,689 last season to 223,985" (DEUTSCHE WELLE, 11/13).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2013/11/15/Finance/Hoeness.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2013/11/15/Finance/Hoeness.aspx

CLOSE