Madrid, July 28 (IANS) Real Madrid generated a record 1.221 billion euros (1.4 billion U.S. dollars) in revenue during the last financial year, according to figures approved by the club’s board of directors on Tuesday.
The Spanish club said revenue rose 3.1 percent from the previous season, adding that no other sports organisation has surpassed that level of annual income. The increase was driven primarily by an 11 percent rise in revenue from the Santiago Bernabeu Stadium and a 6 percent increase in marketing income, boosted by sponsorship and commercial partnerships.
The club posted a pre-tax profit of 26.3 million euros, extending its run of annual profits to 26 consecutive years.
Real Madrid also reported net assets of 624 million euros, cash reserves of 83 million euros and net debt of 9 million euros.
The debt figure does not include financing related to the redevelopment of the Santiago Bernabeu Stadium, where total investment has reached 1.407 billion euros.
Meanwhile, Real Madrid have enjoyed one of Europe’s busiest transfer windows with Jose Mourinho returning as head coach and several high-profile signings already secured, but the Spanish giant still faces key decisions before the market closes.
The club moved quickly to strengthen a defense that was exposed too often last season, signing centre back Ibrahima Konate on a free transfer and bringing in World Cup-winning left back Marc Cucurella from Chelsea.
The Netherlands international Denzel Dumfries has replaced veteran right back Dani Carvajal, whose contract expired at the end of last season, while Bernardo Silva adds creativity in midfield and attack. Brazilian striker Endrick also returns after an impressive loan spell in France with Lyon.
Spanish media reports say Madrid are close to completing a deal worth around 125 million euros for RB Leipzig and Cote d’Ivoire winger Yan Diomande, while rumours linking the club to Manchester City’s Rodri refuse to go away.
Any further arrivals are likely to trigger departures as Mourinho trims an increasingly crowded squad.
The additions of Silva and the expected arrival of Diomande, combined with Endrick’s return, have left Madrid well stocked in attacking positions. Young forward Gonzalo Garcia appears the most likely casualty despite impressing last season.
Garcia is reportedly close to joining Fulham, where he could reunite with former Real Madrid youth coach Alvaro Arbeloa. The Premier League side has also been linked with Madrid’s 18-year-old winger Franco Mastantuono, although the Argentine is more likely to leave on loan after an underwhelming first season in Spain.
–IANS
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