Real Madrid Club de Fútbol has posted an 8.6 per cent increase in gross revenue for the 2009-10 financial year, when compared with the previous year.

The Spain-based club generated more than €442m (£365m) before player transfers, despite a failure to win any silverware. Net profit grew by 11.5 per cent and net debt fell by a quarter compared with 2008-09. A Real Madrid spokesperson said: "The Net debt ratio over earnings decreased from 3.1 to 1.7, while with respect to net assets it decreased from 1.7 to 1.1. This substantial improvement of solvency indicators gives Real Madrid a higher credit rating."