MADRID: Big-spending European champions Real Madrid have confirmed their status as financial champions as well by announcing a record income of €603.9m  (£479m) for the 2013-14 season – much of it down to winning the UEFA Champions League for a record-extending 10th time in May.

Madrid’s total revenue was up 10.9pc on last season, with the net profit up from €36.9m  (£29m) last year to €38.5m  (£30.5m) this year.

The Spaniards also reduced their net debt by 21pc to €71.5m.

This increase in income has allowed Madrid to splash out around €100m on players this summer, including World Cup stars James Rodriguez, Toni Kroos and Keylor Navas though a significant sum was recouped on the sale of Angel Di Maria to Manchester United for €60m.