Real Madrid announce record income for 2013-2014

Mexico's international soccer player Javier Hernandez 'Chicharito', poses during his official presentation at the Santiago Bernabeu stadium in Madrid

New Delhi: Spanish giants Real Madrid has reported a record income of 603.9 million euros over the past year and made a net profit of 38.5 million euros, the club's president announced on Friday.

In the annual report for 2013-14, presented by Florentino Perez, the club's total revenue was declared to be increased by 10.9 percent. The net debt of 71.5 million euros was down by 21 percent compared to the previous year.

During the presentation, Perez claimed that Madrid had ''for the 10th consecutive year'' been the sporting institution with the highest income in the world, and was considered the most valuable club by Forbes ''for the third year running.''

The club posted their 2013-14 season's annual revenue information on micro-blogging site, Twitter.

Administrative Information for the 2013/14 Financial Year http://t.co/wdMeqDca57 #realmadrid pic.twitter.com/4kO8CW2Bp5

— Real Madrid C.F. (@realmadriden) September 5, 2014

In the 2013-14 season, Real Madrid under their new manager Carlo Ancelotti, achieved the elusive La Decima dream by beating German champions Bayern Munich in the Champions League final. Ancelotti also helped Madrid win Copa del Rey and UEFA Super Cup.

Despite the controversies surrounding the transfers of Xabi Alonso, Angel Di Maria and Alvaro Morrata, star players continued to arrive at Santigo Bernabeu, with many embracing for yet another Galacticos era. In a busy off season business, Los Blancos signed World Cup stars James Rodriguez, Toni Kroos and Keylor Navas.

He will submit the accounts for approval at the club's Ordinary General Assembly on September 21, following the advice from Board of Directors.