Real expect record revenues this season

Real Madrid announced Thursday it expected record revenues for the 2008/2009 season of 407 millions euros (552 million dollars), up from 366 million previously.

The figure is above the 400 million euros budgetary forecast, and pre-tax profits for the season, ending June 30, should rise to 58 million euros from 51 million in the 2007/08 season, the club said.

The optimistic forecast comes days before a general meeting on Sunday that could decide on the date of the next election for club president in early June.

Real said its debt by June 30 should fall to 125 million euros from 200 million last year.

Real’s arch-rival Barcelona has forecast a budget of 380 million euros for the season, with a debt of 180 million euros.

The two football clubs, which currently hold the top two positions in the Primera Liga, are among the most profitable in the world.

Both have recently benefited from a sharp jump in earnings from television rights.