Real Madrid post record revenue to top sporting rich list for 10th consecutive year

President Florentino Perez confirmed the club made a turnover of €603.9 million for the 2013-14 season while reducing net debt by 21 per cent

Real Madrid have posted record revenue figures to ensure they top the rich list for sporting institutions for the 10th year in a row.

Club president Florentino Perez confirmed that a general meeting of the directors will take place on September 21 but was eager to reveal the staggering financial statistics of the world's richest club at the Santiago Bernabeu on Friday.

Madrid generated a total turnover of €603.9 million in the 2013-14 season, an increase of 10.9 per cent on the previous campaign, while their net profit has increased by a further 44% to €38.5m.

Perez also stated the club's net debt has fallen by more than 21% to just over €75m, while a total of €167m was contributed to state tax and national insurance policies.

"For the tenth consecutive year, we will be the highest earning sports institution in the world, and for the third consecutive year, Forbes considers us the most valuable club in the world," Perez said to reporters.

"For me, being chairman of Real Madrid is an honour, but running this wonderful club is a responsibility and we should never forget that, after 112 years of history, Real Madrid still belongs to its members."

Madrid broke the global transfer record in the summer of 2013 when they signed Gareth Bale for €100m, while they spent a further €120m this summer to bring James Rodriguez, Toni Kroos and Keylor Navas to the club.

The European champions have recouped a significant amount of transfer spending through player sales, with the departures of Mesut Ozil and Angel Di Maria alone combining to generate more than €100m over the past 12 months.

Culled from www.dailymail.co.uk