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Madrid reveals record revenues, prior to Bale deal

Published on NewsOK Modified: September 6, 2013 at 4:33 am •  Published: September 6, 2013

MADRID (AP) — Real Madrid says it posted record revenue of more than half a billion euros (dollars) for a second straight season in 2012-13.

The world's richest club says it earned 521 million euros ($684 million) — a 1.2 percent increase from the previous year — for a profit of 37 million euros ($48.5 million) in a season that failed to produce a major trophy.

Madrid says it reduced its debt by 34 million euros ($45 million) for a total still owed of 91 million euros ($119 million).

These figures do not include Madrid's transfer business from this summer, topped by its world-record payment of 100 million euros ($132 million) for Gareth Bale.

Madrid, which leads Spanish rival Barcelona in the rich list, says its revenue figures are "not reached by any other sporting institution in the world."