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Real Madrid Profit Rises 52% as European Champion Cuts Debt

Sept. 6 (Bloomberg) -- Real Madrid, the nine-time European soccer champion, increased profit by 52 percent in the year through June 2013 while curbing its debt.

Real posted net income of 36.9 million euros ($48.4 million), compared with 24.2 million euros a year earlier. Revenue rose 1.3 percent to 520.9 million euros, the club said on its website yesterday.

Real Madrid, which agreed to pay 78 million pounds ($121 million) this month to buy Gareth Bale from Tottenham Hotspur, reduced its debt to 90.6 million euros as of June 30 from 124.7 million euros, it said.

To contact the reporter on this story: Emma Ross-Thomas in Madrid at erossthomas@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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