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Profitable Year At The Bernabeu

Real Madrid posted their best ever accounts this year, racking up
pre-tax profits of €44 million...

The club brought in €351 million in ordinary revenue, up 20% on last
year, with €83 million pre-tax and pre-interest earnings, up 43% on
the previous fiscal year.

Despite the whopping transfer expenditure at Madrid - well in excess
of €100 million - Madrid still seem to have turned a profit, even
before capital gains from sale of non-sporting assets are taken into
account.

A club statement indicated that the income was split almost equally
from three sources: stadium income, broadcast income, and marketing.

The Merengues also pride themselves on efficiency, personnel
expenditures being 48% over ordinary expenditures, below the 70% limit
suggested by the G-14 group of elite clubs.

Madrid has €98 million in available liquid assets, which the club says
is sufficient to "comfortably and reliably meet the outstanding
payments for investments carried out over the last few years."


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