LaLiga, the organising body of the top two divisions of Spanish club football, has reported on its best season financially after generating record revenues of €3.662bn ($4.55bn) for the 2016-17 campaign, reports SportBusiness.

LaLiga's annual financial report detailed a year-on-year increase of €495m in revenue, stating that much of this can be attributed by the move to a centralised model for its broadcast rights. LaLiga will earn at least €983m per season over three seasons, from 2016-17 to 2018-19, solely in domestic deals with pay-television broadcaster beIN Sports and telecommunications firms Telefónica, Vodafone and Orange.

This was made possible after a tender of 10 packages covering rights to the top-tier LaLiga, second-tier Segunda Division, and the Copa del Rey cup competition closed in December 2015, after one round of bidding.

It marked the first time Spanish domestic football rights had been sold on the open market. In its financial report, LaLiga noted that income received from broadcast rights increased from €729m to €1.455bn during the 2016-2017 season.

The remainder of the revenue comprised €622m in marketing, €475m in transfers, €746m in matchday income and €117m from advertising, with other sources accounting for €245m. This allowed for a pre-tax profit of €234m, according to LaLiga.

Commenting on the report, LaLiga chief executive Javier Gomez said: "This is the best season in terms of LaLiga's economic and financial results."