Real Madrid closes financial year with $13.4M profit

Real Madrid closed the 2022-23 financial year with a €12 million ($13.4 million) profit, the Spanish football powerhouse confirmed on Monday.

In a statement, Real Madrid said that the Whites' revenue for the last season-excluding player transfers-has "reached €843 million," which was 17% more than the previous year.

The club's income in the 2021-22 financial year was €721.5 million.

Real Madrid said the club's income exceeded €757 million (2018-19 season) for the first time, which was a record prior to the 2019-20 football season that was hit by the COVID-19 pandemic.

The Spanish club also confirmed that its net debt was €47 million as of June 30.

"The club maintains a solid equity situation with a net equity of €558 million and Treasury of €128 million as of June 30, 2023," added Real Madrid, which is among the richest clubs in the globe.

Real Madrid, who are the record holders of the UEFA Champions League with 14 titles, signed English star Jude Bellingham from Borussia Dortmund, and Turkish phenom Arda Guler from Fenerbahce this summer.

The Whites finished the 2022-23 Spanish La Liga in the second place, and were eliminated in the Champions League semifinals last season.