Real announce record profits

Madrid - Spanish giants Real Madrid announced Friday on their website record income and profits for the 2012-2013 season.

The club's income increased by 1.3 percent to 520.9 million euros (686.1 million dollars) from the previous season, "a higher figure than any other sporting organization in the world," according to the website.

In addition, Real posted a record profit of 36.9 million euros, which is an increase of 47.8 per cent compared to the previous season.

The club's total assets increased by 13.4 per cent to 311.9 million euros, and the club's debts fell 27.4 per cent to 90.6 million euros, according to the website,.

In particular, Florentino Perez has substantially increased Real's income from marketing and merchandising since returning to the club presidency in 2009.

Perez was re-elected unopposed in June, despite the whites' lack of success on the field in recent seasons