Typical British jealousy Real hasn't taken out a loan since 2002. You must be thinking of Barca. In fact during the transfer season real made money.
| CLUBS WITH MOST REVENUE* |
| 1 |
Real Madrid CF |
479.5 |
| 2 |
FC Barcelona |
450.7 |
| 3 |
Manchester United |
367 |
| 4 |
Bayern Munchen |
321.4 |
| 5 |
Arsenal |
251.1 |
| 6 |
Chelsea |
249.8 |
| 7 |
AC Milan |
235.1 |
| 8 |
Inter Milan |
211.4 |
| 9 |
Liverpool |
203.3 |
| 10 |
Schalke 04 |
202.4 |
| 11 |
Tottenham Hotspur |
181 |
| 12 |
Manchester City |
169.6 |
| 13 |
Juventus |
153.9 |
| 14 |
|
In millions of Euros

Contrary to popular belief, Real Madrid and Barcelona are relatively profitable: Madrid have made total profits of around €200 million in the last five years, including €47 million last season; while Barcelona’s loss was only €12 million. Adjusting for non-cash flow expenses like depreciation and amortisation plus interest produces very impressive EBITDA of €151 million for Madrid and pretty good €66 million for Barcelona. In the same way, Manchester United’s notable ability to generate cash results in excellent EBITDA of €138 million.
So, Madrid’s cash flow over debt ratio comes in at 26%, much better than the others: Manchester United 14%, Arsenal 13% and Barcelona 11%. Simply put, the higher the percentage, the better the club’s ability to pay its debt.

Last season madrid won 76% of matches, won la liga and went farther in the Champions. ManU won 73% of matches lost the Premier and went out in group stages. So tell me which team would you bet on financially?