During Real Madrid President Florentino Pérez's discussion at Madrid's General Assembly, "economic strength, a growing athletic project and better attention for fans were the points of emphasis" that Pérez discussed with the 950 shareholders in attendance, according to Sergio Valentín of LIBERTAD DIGITAL. Pérez: "Despite Spain's economic situation, Real Madrid has capably increased its sponsorship." Real Madrid earned €521M ($704.6M) last season. For the upcoming season, Madrid's projected revenue is €515M ($696M). The team's "net debt has been reduced by 27%" to €90.6M ($122.5M). After a "difficult year," Pérez praised the arrival of Real Madrid coach Carlo Ancelotti, "who has everything in place to establish a style of play that we would love." With the team's youth players, Pérez "asked for patience because they are the team's best players and they are in a 'transition' stage." Real Madrid's "first team has had a residence built in the athletic city of Valdebebas and by the end of the year, a residence for the youth teams will be complete" (LIBERTAD DIGITAL, 9/22). MARCA reported Real Madrid revealed a 13.4% increase in net assets, which reached €311.9M ($422M), and a 52.4% rise in profits. The club's €521M revenue was "up 1.3% on the previous year" (MARCA, 9/21).
