Madrid reveals record revenues, drop in debt

Real Madrid says it posted record revenue of more than a half a billion in the 2011-12 season, an increase of 7 percent.

The world's richest club says it earned $673 million - up from a record $628 million - for a profit of $44 million in the season it won the Spanish league.

Madrid says its debt load dropped from $221 million to $162 million, coming in line with UEFA's financial fair play requirements.

Financial fair play requires European teams to only spend what they earn. The break-even rule goes into effect in the 2014-15 season

Madrid, which leads Spanish rival Barcelona and Manchester United in the rich list, says the revenue figures are ''the biggest sum of any sporting institution in the world.''