Real Madrid Profit Rises 52% as European Champion Cuts DebtEmma Ross-Thomas
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.