MADRID: Real Madrid may have made their worst start to a season in 11 years but their financial power is going from strength to strength according to the latest annual accounts of the nine-times European champions.
In the week in which Madrid kick off their pursuit of a 10th European crown with a high-profile hosting of Manchester City the Spanish champions revealed record revenues of more than a half a billion euros in 2011-1, an increase of seven percent.
The world’s richest club earned E514m — up from a record E480m last year – for a net surplus of E24m. Conversely, the sum represents a net annual slippage of E7m.
With UEFA’s financial fair play rules in mind,Madridreported that a net debt has dropped from E169.7m to E124.7m. The club claims the revenue figures are “the biggest sum of any sporting institution in the world”.
In the Spanish league Madrid have already dropped eight points behind leaders Barcelona after Saturday’s 1-0 defeat by Sevilla.
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