MADRID(AP) Real Madrid says its earnings have increased 8.6 percent year-on-year, seemingly dispelling fears that the Spanish powerhouse would suffer financial woes after having spent heavily to buy players and still not won major silverware.
The club says on its website Wednesday that its gross revenue increased from 407.3 million ($517 million) in the previous season to 442.3 million ($561.6 million) in 2009-10.
Madrid drew criticism last year for its heaving spending and was one of the main reasons why UEFA's Professional Football Strategy Council introduced ''financial fair play'' regulations stating European clubs should break even from 2012 or face being barred from the Champions League.
Madrid, now coached by Jose Mourinho, had spent record sums to acquire Cristiano Ronaldo, Kaka, Karim Benzema and Xabi Alonso.