#wage-bill

#wage-bill

Our commercial business remains strong as we continue to deliver appealing products and experiences for our fans, and best-in-class value to our partners. As we start to feel the benefits of our cost-reduction programme, there is significant potential for improved financial performance, which will, in turn, support our overriding priority: success on the pitch.

The development of transfer fees must be viewed in the context of club revenue. In 2000, FC Bayern's revenue was 283 million Deutschmarks, equivalent to 144.7 million euros; last year it was 951.5 million euros, more than six times as much. The transfer fees aren't the problem; they are amortized over the term of the contract. In Harry Kane's case, with a four-year contract, the 100 million euros burden FC Bayern with 25 million euros per annum.