Real Madrid, which last month added England striker Michael Owen to Europe's most successful soccer team, said it expects pretax profit to surge sixfold this year and revenue to climb 27 percent, helped by marketing sales.
The record nine-time European champion expects profit before tax will rise to 50 million euros ($60 million) for the year to July 2005 from 8 million euros. Revenue will increase to 300 million euros, while marketing income will jump 61 percent to 137.1 million euros. It didn't provide numbers for net income.
"This financial situation, probably the most robust of any soccer team in the world, guarantees the solvency of the club and the financing of forthcoming investments," the team said in a statement.
Manchester United, soccer's top-earning team according to accountancy firm Deloitte & Touche LLP, earned 173 million pounds ($307 million) for the 2002-03 financial year. It will report its latest full-year figures on Sept. 27.
Real Madrid, led by President Florentino Perez since 2000, is building a new training ground and plans to put a roof over its 80,000-seat Santiago Bernabeu stadium.
Owen, 24, is the fifth star player, or "galactico," to join Real Madrid in as many years after the likes of David Beckham, Ronaldo and Zinedine Zidane. With salaries of as much as 6 million euros each, the players split marketing revenue with the team.
Real Madrid expects its wage bill to rise from 6.6 million euros to 140.2 million euros, the statement said.
-- From News Services