Bayern Munich has been valued at £3.1bn following a significant minority investment from German family office and energy giant Viessmann Generations Group.
Viessmann Generations Group has acquired a 6.7 per cent stake in Bayern Munich AG, the commercial entity that houses the professional club and all its business operations.
Local media reported the transaction as being worth approximately 250 million euros, equivalent to around £209 million, implying a total club valuation of 3.7 billion euros.
That valuation represents approximately four times Bayern’s most recently reported annual revenue, which stood at 978 million euros in the 2024-25 financial year.
The investment was structured as a capital increase, which has diluted the holdings of Bayern’s existing minority shareholders, including carmaker Audi, sportswear giant Adidas, and insurer Allianz.
Those shareholders have seen their combined stake trimmed from 8.3 per cent to 7.8 per cent as a result of the new share issuance.
Bayern Munich eV, the organisation owned by more than 300,000 members, remains the majority shareholder, though its stake has fallen from 75 per cent to the minimum 70 per cent permitted under its articles of association.
German football rules mandate that clubs must be majority owned by their fan associations, a structure that continues to distinguish the Bundesliga from England’s Premier League.
Bayern’s record valuation for German football nonetheless trails the £5.5bn implied valuation of Liverpool following this year’s minority investment led by Amit Bhatia, underlining the enduring financial power of the Premier League.
Viessmann Generations Group is one of Germany’s most prominent family offices, having sold its century-old heating, ventilation and air conditioning business to US-based Carrier Global Corporation for 12 billion euros in 2024.
The family office became a sponsor of the six-time European champions in 2018 and has supported winter sports athletes and federations for more than 30 years.
Club president Herbert Hainer welcomed the deal, saying: “Like FC Bayern, Viessmann Generations Group stands for values such as tradition, ambition and innovation.”
Hainer added: “We are delighted to have a long-term partner by our side whom we have known for many years, and who complements our strong group of shareholders with the perspective of an international, family-owned business that takes a long-term view across generations.”
He also noted that the move “strengthens the ownership structure of FC Bayern München AG” and provides “greater flexibility in a time of constant change.”
Max Viessmann, CEO of the family business, is set to join the board of the 33-time Bundesliga winners once all transaction formalities have been completed.
“FC Bayern is one of Europe’s most successful clubs, with clear values and a strong sense of social responsibility,” Viessmann said, adding that the family intends to help maintain Bayern’s “economic independence and sustained success.”
Bayern’s implied valuation has risen by 2.8 times since Allianz paid 110 million euros for its minority stake in 2014, a deal which valued the club at just 1.3 billion euros at the time.