Real Madrid makes more money - but less profit
The Real Madrid football club says it posted record revenue of more than a half a billion euros in the 2011-12 season, an increase of seven percent.
The world’s richest club says it earned E514 million ($670 million) — up from a record E480 million ($627 million) — for a net gain of E24 million ($41 million). That represents a net drop of over E7 million ($9 million) from last season when it won the Spanish league.
Madrid says its net debt dropped from E169.7 million ($222 million) to E124.7 million ($163 million) as it comes in line with UEFA’s financial fair play requirements.
Madrid, which leads Spanish rival Barcelona and Manchester United in the rich list, says the revenue figures are “the biggest sum of any sporting institution in the world”.