Atlético Madrid made a net profit of €13.1M over the '14-15 season, per accounts presented at the club's annual general shareholders meeting in Madrid on Tuesday, according to Dermot Corrigan of ESPN. Under current President Enrique Cerezo and CEO Ángel Gil Marín, Atlético "for years ran up debts" including tax liabilities of €215M ($234M). However "new stricter financial regulations" brought in by the Spanish government, UEFA and the La Liga authorities, as well as the team's "recent successes on the pitch" under coach Diego Simeone, have seen an "improvement in the situation." A club statement said that income was up and expenditure down -- and predicted a budget for the '15-16 campaign of €240.5M ($262.2M). The statement said, "The AGM approved the club's annual accounts for the 2014-15 season, which saw a net profit, after tax, of €13.1m. Thanks to a growth in income of 7.24 percent and a reduction in costs of 0.64 percent, the result was positive by €40m, compared to the €19.3m from the previous period" (ESPN, 10/28).
