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Royal Madrid Football Club commonly known as Real Madrid is a professional football club based in Madrid, Spain. The club is estimated to be the second highest-earning football club in the world. The club is known for world's most expensive players, such as Zinedine Zidane, Luís Figo, Cristiano Ronaldo and David Beckham. Real Madrid is organized as a registered association and owned by its supporters who have to elect the club president. The club can only spend what it earns, which is mainly derived through merchandise sales, television rights and ticket sales. Unlike a limited company, it is not possible to purchase the shares in the club, but only membership option is provided. As a non-profit organization, the management is also responsible to publish its financial statements in accordance with International Accounting Standards and Local Laws.
“Christiano Ronaldo” is one of the world’s renowned and star footballers of Real Madrid since 2009. Ronaldo set a new club mark for individual goals scored in one year (60), and became the first player ever to score against all 19 opposition teams in a single season. His records enabled the club to generate huge funds as well as fame due to his enormous records. But he has announced to leave Real Madrid to join “Juventus” after “FIFA World Cup 2018” held in Russia.
You are required to discuss whether this information is relevant to disclose when Real Madrid will publish its financial statements as annual report or not? Support your answer with logical arguments.
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