Madrid announce record profits

05 September 2014 01:46

Real Madrid's results for the 2013/14 financial year have shown record revenues of 603.9million euros (480m GBP).

The European champions published their financial report on their website, with their return having grown by 10.9 per cent with respect to the previous financial year.

The club's net profit also increased by 4.4 per cent to 38.5million euros while Real's debt shrunk by 21 per cent and stands at 71.5million euros.

"We are extremely satisfied with the financial stability of the club which gives us institutional balance and sporting success," club president Florentino Perez said at a press conference at the Bernabeu. "For the 10th consecutive year we will be the club with the biggest revenue in the world.

"We have ended the financial year with a revenue of 603,9 million euros."

The financial report still has to be approved by the club's board of directors, which will hold a general assembly on September 21.

This summer, Real have spent 122.5million euros in the transfer market having brought James Rodriguez, Toni Kroos and Keylor Navas on permanent deals while Javier Hernandez joined the Spanish outfit on a season-long loan from Manchester United.

However, that figure is almost balanced out by the 114million euros received for Angel di Maria, Xabi Alonso, Alvaro Morata, Casemiro and Diego Lopez.

Source: PA