Calderon Risking Real Madrid’s financial Situation
Posted on 19. Jul, 2008 by Borris Becker in News
Calderon Risking Real Madrid’s financial Situation
Ramon Calderon is being questioned now
OK, guys looks like Real Madrid is not an Immortal Bank as I thought it was as there have been reports that Real Madrid would need to borrow some loan to finance C.Ronaldo’s transfer while the club’s debt continue to increase to an extent that it could increase about 100 million euro per season which is like a lot of money.
Los Merengues’ high profile chase of the Crisitano Ronaldo is papering over the cracks of an ever-worsening bank balance under Ramón Calderón’s regime, according to El Mundo Deportivo.
Now I know, to some it may sound strange as during Perez’s time Real Madrid seemed to have spent a lot more than these past two seasons under Ramon Calderon but the fact is that while Perez signed some big money players, he only signed one whereas Ramon Calderon though has not bought a player worth more than 30 million euro ( I think), has signed like 13 players since his appointment as the President in the last two season which means 7 players per year which is ridiculous.
Florentino Pérez managed to put the club back on even keel after the financial situation by selling some less frequently used training ground facilities to the government I think, before that it was reputedly become very serious under Lorenzo Sanz, but the current board are undoing that work.
I heard that Real Madrid’s hierarchy is becoming increasingly concerned over the financial situation at the club as there is only 25 million euros left in the White House’s account.
A loan that would allow Madrid to pay €70m for Ronaldo has been granted by Banco Santander and that would see the reigning league champions owe even more which also means that Real Madrid would have to pay more and more interest just like Manchester United (which is in a far worst condition than this).
This is what I read on some site of which I can’t remember the name.
Calderón has returned to using the system that Sanz introduced of spreading the club’s debts out in order to disguise the true extent of what is owed, the paper continues.
If Madrid sign Ronaldo for €70m then that fee will be spread over the length of his contract and will not register as a full payment on the balance sheet, but in reality that is what will be owed.
Directors and senior club members are considering advising Calderón to stop his chase of Ronaldo and focus on adding more realistic targets to the squad, but after pledging to buy the player he may not be prevented.
If not, then there could be a backlash behind the scenes, while there are reports that the wages of the Portuguese forward could well upset certain senior members of Bernd Schuster’s team.
Now that sounds like some serious trouble there for Real Madrid. I think if Real Madrid cannot afford Ronaldo then to hell with Ronaldo, I am happy with the current squad and would not mind if Real Madrid put out the same squad that Real Madrid had last season, which is not a big deal anyway because no other club change their squad so radically as Real Madrid does.
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