Paris Saint-Germain have announced record revenue of €637.8 million (US$701.3 million) for the 2018/19 fiscal year, reports, www.sportspromedia.com/. reports, www.sportspromedia.com/.
The Ligue 1 champions' latest financial results show a revenue increase of 17.7 per cent, up from €541.7 million (US$595.7 million) for the previous year.
PSG chairman Nasser Al-Khelaifi cited "the two largest sponsorship contracts" in the club's history as key reasons for the revenue increase.
PSG's new shirt sponsorship deal with multinational hotel chain Accor and their improved kit contract with US sportswear giant Nike – both of which were signed in the last 12 months - are worth a combined €150 million (US$165 million) annually, according to the AFP. In total, the 2018/19 fiscal year saw the Parisian club add 12 new commercial partners.
"The PSG brand continues its rise, building on an attractiveness that has never reached such a peak, especially with major international brands," Al-Khelaifi commented.
Elsewhere, PSG's matchday revenues from ticketing and hospitality reached a whopping €115 million (US$126.4 million), with the team's 1-0 win over Belgian side Club Brugge in the Uefa Champions League on Wednesday apparently the 60th consecutive sold-out fixture at the club's Parc des Princes.
In addition, PSG brought in €156 million (US$171.6 million) from television rights, while merchandise sales generated €60.4 million (US$66.4 million), an increase of 9.2 per cent, owing largely to the club's kit collaboration with Nike-owned Jordan Brand.
PSG's revenue for the 2017/18 fiscal year saw them rank sixth in the most recent Deloitte Football Money League, with Manchester City, Bayern Munich, Manchester United, Barcelona and Real Madrid ahead of them.
