What We're Reading
Bayern Munich Posts Record Turnover
- ESPN FC, Friday, November 15, 2013 1:14 PM
Bayern Munich, winner of an unprecedented treble in 2012-13, posted record turnover of 432.8 million euros ($583.4 million) last season, up from 373.4 million euros ($503 million) in 2011-12. The German giant achieved this despite payroll costs of over 200 million euros, which are as high as those of Bundesliga clubs Braunschweig, Freiburg, Augsburg, Berlin, Nurnberg, Mainz, Hoffenheim and Frankfurt combined, according to Die Welt.
However, the news was overshadowed by the first speech of CEO Uli Hoeness following news of his tax trial, beginning next March. Hoeness broke into tears after Bayern CEO Karl-Heinz Rummenigge introduced his friend and the club’s member’s could be heard chanting: "Uli Hoeness, you are the best man."
The Bayern CEO said: "I’m overwhelmed. Not just because of your speech, Karl-Heinz, but because of the reaction of our membership.” He added that he would call for a vote of confidence from the club’s 200,000-plus members in the near future. "I wish to give the membership the right to decide whether I’m still the right president for this club,” he said.
The vote of confidence comes in response to several leading German newspapers demanding that Hoeness step down.
"The German giant achieved this despite payroll costs of over 200 million euros"
Despite? Turnover refers to a company's revenues, not its profits. Thus, it would make more sense to say something like, "This record turnover allows Bayern to afford a 200+ million Euro payroll, …"
Alternatively, you could have stated that Bayern made an operating profit of more than 95 million Euros (which it did), despite its expensive payroll.