- Associated Press - Friday, September 5, 2014

MADRID (AP) - Real Madrid has reported a record income of 603.9 million euros ($782.4 million) over the past year and made a net profit of 38.5 million euros ($50 million), the club’s president announced Friday.

Florentino Perez presented the annual report for 2013-2014, saying that the club’s net debt of 71.5 million euros was down 21 percent compared to the previous year.

Perez said that the club’s revenue had increased 10.9 percent year-on-year.

He added that Madrid had “for the 10th consecutive year” been the sporting institution with the highest income in the world, and was considered the most valuable club by Forbes “for the third year running.”

Madrid won its 10th Champions League Cup in May and signed World Cup stars James Rodriguez, Toni Kroos and Keylor Navas this offseason.

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