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Real Madrid have announced healthy financial figures for 2012/13, including a 1.3 per cent increase in turnover which makes the club "the only sports entity in the world in far surpassing the 500million euros revenue barrier for the second consecutive year".
The Primera Division outfit's revenue totalled 520.9million euros (£438.5m) with a net profit of 36.9million euros (£31.1m), while the club's net debt was down 27.4 per cent - all despite the team's failure to land a major trophy last term.
A statement from the club, who on Monday shelled out a reported world-record fee of 100million euros (£85.3m) to acquire the services of Gareth Bale from Tottenham, read: "Real Madrid closed the 2012/13 fiscal year with a turnover of 520.9million euros, i.e. 1.3 per cent more than in the previous period, thus becoming the only sports entity in the world in far surpassing the 500 million euros revenue barrier for the second consecutive year.
"Earnings before taxes total 47.7million euros (£40.2m), i.e. 47.8 per cent more than in the previous period, while net profit is 36.9million euros, ie. 52.4 per cent above the previous fiscal year.
"Equity grew by 13.4 per cent, up to 311.9million euros (£262.5m).
"Net debt dropped 27.4 per cent totalling 90.6million euros (£76.3m), ie. 34.1million euros (£28.7m) less than in the previous period."