MADRID (AP) – Real Madrid says its revenues increased by 8 percent over the 2010-11 season to reach a record figure of nearly half a billion euros.
The world's richest club says it earned ?480.2 million ($663 million) for a net gain of ?31.6 million ($43.6 million) from a season when it won the Copa del Rey. The net profit margin was up from ?24 million ($33 million) the season before.
Madrid also says its net debt dropped from ?244.6 million ($337.6 million) to ?169.7 million ($234.2 million).
Madrid, which leads Spanish rival Barcelona and English champion Manchester United, says the revenue figures are ''the biggest sum of any sporting institution in the world.''