Real Madrid has announced "positive financial results for the financial year 2015-16," saying they put the club now "in a position of maximum solvency," according to Dermot Corrigan of ESPN.com.
The released figures showed that annual revenue had reached €620.1M, with cash reserves up to €212M and a pre-tax profit of €43M, with last year's €95.8M debt wiped out.
The results were published in a club statement. The statement read, "Operating revenues for the financial year 2015/16, without taking into account capital gains obtained as a result of player transfers, have topped 600 million euros for the first time, reaching a figure of 620.1 million euros, a 7.4% increase on the previous financial year. The operating result before repayments and player transfers ('recurring EBITDA') has risen to 163.2 million euros, which is the highest figure ever reached by the club, representing a 26.3% increase on revenue figures and a rise of 20.9% on the previous financial year. A pre-tax profit of 43.3 million euros has been recorded, which is 22.5% less than the previous financial year" (ESPN.com, 10/9).
