German football giants Bayern Munich have been valued at £3.1bn after taking minority investment from long-standing sponsor Viessmann Generations Group.
Viessmann Generations Group has acquired 6.7 per cent of Bayern Munich AG, the commercial entity that houses the professional club and all its business operations, in a transaction local media reported as being worth €250m (£209m).
That gives the reigning Bundesliga champions, home to England captain Harry Kane, an implied valuation of €3.7bn (£3.1bn) – approximately 4x their most recently reported annual revenue, which was €978m in 2024-25.
The investment came via a capital increase, meaning that the holdings of Bayern’s other minority shareholders, who include carmaker Audi, sportswear giant Adidas and insurer Allianz, have been diluted from 8.3 per cent to 7.8 per cent.
Bayern Munich eV, the organisation owned by more than 300,000 members, remains the club’s majority shareholder, although its stake has fallen from 75 per cent to the minimum 70 per cent mandated in its articles of association. German football rules stipulate that clubs must be majority owned by fan associations.
The club’s valuation is a record for German football but significantly less than the £5.5bn valuation of Liverpool implied by this year’s minority investment led by Amit Bhatia, underlining the financial strength of the Premier League.
Bayern’s value has increased by 2.8x since Allianz paid €110m for its minority stake in 2014, a deal which valued the club at €1.3bn.
Who is Viessmann Generations Group, new Bayern investor?
Viessmann Generations Group is one of Germany’s richest and most influential family offices with investments in energy infrastructure, having sold its century-old heating, ventilation and air conditioning business to US-based Carrier Global Corporation for €12bn in 2024.
It became a sponsor of the six-time European champions in 2018 and has been a backer of winter sports athletes and federations for more than 30 years.
“Like FC Bayern, Viessmann Generations Group stands for values such as tradition, ambition and innovation,” said club president Herbert Hainer.
“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.
“This step strengthens the ownership structure of FC Bayern München AG. A further substantial strengthening of our equity base also gives us 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 formalities of the transaction have been completed.
“FC Bayern is one of Europe’s most successful clubs, with clear values and a strong sense of social responsibility,” he said. “We want to play our part in maintaining a strong FC Bayern – a club with its own identity, economic independence and sustained success.”