Real Madrid announce revenue of €750.9m for previous fiscal year

Messi: Real Madrid 'less good' after Ronaldo exit (0:56)

Lionel Messi says the departure of Cristiano Ronaldo has weakened rivals Real Madrid. (0:56)

Real Madrid said they have enjoyed their largest increase in revenue in 18 years, raising a total of €750.9 million for the 2017-18 financial year as their net worth increased to €494.5m.

The increase in revenue, which does not include player transfers, marks an 11.3 percent rise from last year as they earned an extra €76.3m. Their net profits reached €31.2m, or 45.9 percent more than the previous term.

The club sold Cristiano Ronaldo to Juventus in July for €100m, and they signed Thibaut Courtois, Vinicius Jr., Mariano Diaz, Alvaro Odriozola and Andriy Lunin for nearly €150m.

In a statement, Madrid said their success in several sporting departments has led to increased revenues but also greater expenses because of bonuses paid to personnel.

Meanwhile, the club would like to explore renovations to the Santiago Bernabeu, with the board of directors calling an extraordinary assembly in order to discuss assuming debt so that work can be commissioned.

According to reports, president Florentino Perez has already been in contact with various banks and investment firms in an effort to secure funds for the refurbishing of the stadium.