Real unaffected by global financial crisis - director

AFP - 10 October 2008 16:30

Workers change the grass of the Santiago Bernabeu Stadium in Madrid, 2005. Spanish champions Real Madrid´s director general Jose Angel Sanchez said that the world´s largest revenue-generating football club last season, has not been affected by the global financial crisis as it is in a solid economic situation.

MADRID (AFP) - Spanish champions Real Madrid, the world's largest revenue-generating football club last season, has not been affected by the global financial crisis as it is in a solid economic situation, the club's director general Jose Angel Sanchez said Friday.

"Real Madrid is in a good economic and financial situation and is at the head of the world ranking of football clubs in terms of revenues," he told the club's television station.

"This is not easy, there are not many examples of Spanish institutions or companies which are at the head of the revenue rankings in their sector," he added.

Real posted a net profit of 97 million euros last season, up from 40 million euros during the 2006-07 season.

The club was the world's largest revenue-generating club for the third successive season during 2006-07, according to an annual ranking compiled by London-based business advisory firm Deloitte.

Real's arch rivals Barcelona were in third place with the other three spots in the top five occupied by English Premiership clubs.

Manchester United were in second place, Chelsea were in fourth and Arsenal, buoyed by their new stadium, were on fifth place.