Bundesliga team Borussia Dortmund said on Friday that it has the best single-year turnover record in its history, making 509.1 million euros ($559 million) last season.
The figure, which does not include transfer fees, represents a 24% rise over the previous season.
Despite finishing fifth in the Bundesliga, Dortmund’s unexpected run to the Champions League final, where they were defeated 2-0 by Real Madrid, was the primary cause for the club’s record revenue.
Increased TV revenue and commercialization also contributed to the increase.
“This is my 20th annual press conference, and it’s certainly one of the most satisfying ones,” club president Hans-Joachim Watzke remarked on Friday.
The actual revenue is likely to be much greater, given that Dortmund sold English player Jude Bellingham to Real Madrid for 103 million euros during the reporting period.
Dortmund, the only German club listed on the stock market, has announced a dividend of six cents per share as a result of the record profits.
Dortmund, like all other German football clubs, must follow the 50+1 regulation, which ensures member control while restricting outside investment or ownership.