Real Madrid has registered a record $ 800 million revenue for 2016-17. However, the financial year also witnessed the club profit taking a hit of $ 11 million.
The Spanish football club has announced the revenue and profit for the extremely fruitful year, which has added the La Liga, the Champions League, the Club World Cup and the European Super Cup trophies to Real’s cup board.
The success did get the club extra revenue, but it has also resulted in additional expenses.
Even as the club has released the financial highlights, full details are expected only next month (October) when club’s membership will receive the financial details for approval.
Real has recorded a net profit of $25M – a sharp decline of $ 11 million in the $36 million figure for the previous year.
According to a Forbes’ report, the club continues to enjoy an asset reserve, and the trend of not carrying a net debt stays intact. Though the net debt position of -$12 million is marginally weaker in comparison to -$15.6 million a year before.
The reported revenues have surpassed the budget for the year by $51 million. But gross profit of $ 31.3 million has fallen $28.3 million short of the $59.6M budged.
The club estimates that the additional costs of winning four titles have cost an extra expenditure of $50 million.