MADRID: Real Madrid have announced that their net profits for the 2018-19 season excluding player transfers were up 23.1 per cent from the previous year to €38.4 million (US$42.1 million).

The LaLiga side’s profits before tax were at €53.5 million (US$58.7 million), with the club also reporting that their cash balance is at €155.7 million (US$170.8 million).

Despite that, the LaLiga side’s non-transfer revenues for last season have stagnated at €757.3 million (US$830.6 million), an increase of just 0.8 per cent. The club attributed the minor revenue growth to their performance in the UEFA Champions League, which saw them eliminated by Ajax in the round of 16 having previously won European club soccer’s premier competition three years on the bounce.

That revenue figure does not account for the €100 million (US$109.7 million) sale of Cristiano Ronaldo to Juventus, which would take Real Madrid’s overall revenues for 2018/19 past the €800 million (US$877.5 million) mark.

Real Madrid’s financial results for 2018/19 will now be submitted at the club’s general assembly, which has been called for 15th September.

After this year, Real Madrid forecast that their revenue for 2019/20 will climb to €822.1 million (US$901.6 million), prior to the sale of assets, owing to LaLiga’s new audiovisual rights cycle and the activation of new sponsorship contracts.

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