Saturday, 19th September 2009
According to Catalan daily Sport, Real Madrid’s debt after a summer of hectic transfer activity now stands at a huge €580M. President Florentino Perez is preparing to present his budget to the members of the club and will reveal the figure now scribbled in red on Real’s books. The budget Perez is expected to put forward for this season is €442M, which should take care of the Galacticos for now.
Sport also report that Perez secured two bank loans of €75.5M in order to cover summer transfer spending costs, most likely related to the acquisitions of Cristiano Ronaldo and Kaka.
Whilst such debt figures may appear large, it should be remembered that Madrid are only closing on the levels of debt built up by clubs such as Manchester United and Liverpool. With turnover which makes them the wealthiest in the world, Real Madrid should be able to service such debt comfortably.