Atletico Madrid finally in the black, announce net profit of €13.1 million

Following years of debt and tax liabilities that totaled €215 million, Atletico Madrid have announced a net profit of €13.1 million for 2014-15, according to a presentation at the club's annual shareholders meeting in Madrid on Tuesday.

Improvements on the pitch have been coupled with improvements off it, with income up and expenditures down with a predicted budget for 2015-16 of €240.5 million, according to a club statement released after the annual meeting, courtesy of ESPN FC.

"The AGM approved the club's annual accounts for the 2014-15 season, which saw a net profit, after tax, of €13.1 million. Thanks to a growth in income of 7.24 percent and a reduction in costs of .64 percent, the result was positive by €40 million, compared to the €19.3 million from the previous period," read the statement.

"The budget of income and expenditure for the current season 2015/16 was also approved, put together in conformance with the financial control criteria established by the LFP and UEFA's Financial Fair Play Regulations, and predicting income of €241.1 million and expenditure of €240.5 million."

Unlike other La Liga outfits, Atletico is a private enterprise, and as one, president Enrique Cerezo and chief executive Angel Gil Marin have a stranglehold on the financial dealings of the club.