Sport News

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Sport News : Real Madrid overtakes
Man Utd as biggest - earning club in the world.

The Spanish giants confirm another very strong year off
the pitch as their earnings go over €600 million for the first
time, despite an overall decrease in profit
Real Madrid have claimed the mantle of the highest-
earning club in world football after posting record revenues
in their latest financial figures.

The European champions saw revenue rise by 7.4 per cent
in 2015-16 to €620 million, eclipsing the figures recorded
by Barcelona and Manchester United.
Barca’s total of €679m included player sales (thought to
amount to approximately €67m), unlike that of Madrid,
while United brought in €570m when their latest records
were released in September.

Madrid have also wiped out €96m of debt but profit
decreased by 22.5%, from €55.9m to €43.3m.
A club statement read: “The Real Madrid board of directors
have agreed to call an ordinary general assembly for
October 23, 2016.

“The corresponding results for the 2015-2016 season
which will be submitted for approval are as
follows: Operating revenues for the financial year 2015-16,
without taking into account capital gains obtained as a
result of player transfers, have topped €600m euros for the
first time, reaching a figure of €620m, a 7.4% increase on
the previous financial year.

“The operating result before repayments and player
transfers (‘recurring EBITDA’) has risen to €163.2m, which
is the highest figure ever reached by the club, representing
a 26.3% increase on revenue figures and a rise of 20.9% on
the previous financial year. This improvement in
profitability is due to an increase in revenues having
subtracted operating expenses and provisions
corresponding to risks and contingencies.

“A pre-tax profit of €43.3m has been recorded, which is
22.5% less than the previous financial year. This is due to
the non-recurrent effect of player transfers, despite the
operating improvements recorded. After achieving a net
profit (after tax) of €30.3m, net worth has risen to
€442.2m.

“The cash balance has risen by €102.6m to reach a figure
of €211.5m, thanks to higher cash flow generated by
operations and restraints on investments.
“As a result of the increase in liquid assets and the
reduction of creditor balances by investments, the net debt
has fallen by €108.9m to sit at a figure of €-13.1m, which
in reality represents not a debt but rather a net liquidity
position. Therefore, multiples of debt over EBITDA and net
worth have been reduced to zero, indicating a position of
maximum solvency.”

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