Real topped Deloitte's latest ranking of football's biggest earners for a 10th year in 2013-14 with income of 550 million euros, with English Premier League team Manchester United climbing into second place on 518 million, according to a report published in January.
Unlike Real's figures, the accounting firm's exclude player transfer fees, VAT and other sales-related taxes.
According to Real's financial results for last season, pre-tax profit rose 15.9 percent to 55.9 million euros, while net profit was 42 million, up 9.1 percent, they said on their website (www.realmadrid.com) on Thursday. Net debt was 95.8 million euros.
Real's dominance is partly due to the way broadcast deals have been organised in La Liga, which has also benefited their arch rivals Barcelona.
Unlike other major European leagues, which have long used a system of collective bargaining and shared income, Spanish clubs have negotiated their own contracts.
That is changing thanks to a law introduced this year mandating collective bargaining, although it is not expected to lead to reduced revenue for Spain's big two, at least in the short term.
(Reporting by Iain Rogers, editing by Justin Palmer)
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