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RealMadrid expect to boost pre-tax profits in 2003-2004 to 58.8 million euros ($63.46 million), thanks largely to a TV deal that kicked in at the start of the season and higher marketing revenues.

Real, whose squad includes French playmaker Zinedine Zidane, England captain David Beckham and Brazilian striker Ronaldo, said on Wednesday it made a pre-tax profit of 9.3 million euros in 2002-2003.

The club, which has agreed to offload several first-team players in recent weeks, including midfielder Claude Makelele and striker Fernando Morientes, said it hoped to make an operating profit of 21.6 million euros in 2003-2004 as it cut payroll expenses.

The nine-times European champions posted an operating loss of 97.9 million euros in 2002-2003 after paying off 76.1 million in debt. But the figures were lifted by 108.3 million euros in extraordinary gains, including profits from the sale of a training ground.

Next year the club expects revenues to rise 21 percent to 232.6 million euros, thanks to a new TV deal worth more than 50 million euros a season and a forecast rise in marketing revenues.

The acquisition of Beckham, one of the world's most glamorous sportsmen, is expected to boost the club's sales of merchandise worldwide.

Real said it had 143.2 million euros in cash and no bank debt.

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