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Investors approve Real budget

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The board of Spanish soccer giant Real Madrid has approved this year's revised budget for the club.

The revised 2001/2002 budget of Pts96.162bn ($529.3m/B577.9m) included the sale of the training ground La Ciudad Deportiva for Pts72bn ($396.3m/B432.7m).

Expenses were set at Pts38bn ($209.1m/B228.3m) including Pts20bn ($110m/B120.2m) on player and staff salaries and Pts10bn ($55m/B60.1m) on future transfers.

Income for the season 2000/2001 stood at Pts47.986bn ($264.1m/E288.4), with outgoings on Pts40.912bn ($225.2m/B245.8m) creating a surplus of just over Pts7bn ($38.9m/B42.5m) compared to Pts500m ($2.7m/B3m) from the previous year.

It was agreed that accounts should continue to be presented for the season not the financial year.