The question of how eal Madrid could afford to spend €100m for Gareth Bake under Uefa’s financial play rules has been answered with the announcement that for the 2012-13 financial year, the Spanish side had record revenues of €520.9 million, profits of €36.9 million and a lowered declared financial debt of €90.6 million.
The figures were announced via a statement on the club’s official website on Thursday evening.
“Real Madrid’s revenue totals €520.9 million, its net profit amounts to €36.9 million, and its net debt has shrunk by 27.4%,” the statement said. “Real Madrid closed the 2012-13 fiscal year with a turnover of €520.9 million, 1.3% more than in the previous period, thus becoming the only sports entity in the world in far surpassing the €500 million revenue barrier for the second consecutive year. Earnings before taxes total €47.7 million, 47.8% more than in the previous period while net profit is €36.9 million, 52.4% above the previous fiscal year.”
The figures announced this week cover the financial year 2012-13, when Madrid were untypically cautious in the transfer market, with its biggest incoming transfer the arrival of Luka Modric in August 2012 for €37 million.
This summer saw a much bigger outlay of €182 million on Gareth Bale, Asier Illarramendi, Isco, Dani Carvajal and Casemiro. But this has been almost balanced out by the €115 million received for Mesut Ozil, Gonzalo Higuain, Raul Albiol, Jose Callejon and Pedro Leon, while high-earner Kaka was also removed from the wage bill, albeit on a free transfer three years after paying €65 million for him.