“Stand by also think the galactic schuldenbergen of Real and Juventus’

Saturday night play Real and Juventus in the final of the Champions League. The voetbalgrootmachten from Madrid and Turin are veelwinnaars, with respectively 13 and 6 European cups in the trofeeënkast, and every 33 league titles to show off. But we will also agree on the 800 million euro joint debts? And the unethical transactions that lie at the basis.

Ronaldo (L), Benzema and Bale (R) warm up with Real Madrid © Belga Image


Am also quiet at the galactic schuldenbergen of Real and Juventus

Back to 1999. For Real Madrid the year before the Champions League win, but the club is in great financial distress. The water is in them to the lips, the mountain of debt is not manageable. As if by miracle turns up the city of Madrid, to be the ministering body. Who buys the outdated trainingcomplex of the club over for a converted, half a billion euro, estimated to be four times more than the real value. A bizarre deal that even the mededingingscommissie of the European Union to shake, but ultimately not to impose sanctions leads, in the absence of direct evidence of large-scale government support.

A year later, Florentino Pérez, chairman of Real. Such as that in Spain, typically, he is elected on the basis of boastful promises. The world’s best players will go to the Estadio Santiago Bernabéu, announces Pérez. He loves the word. The Gálacticos are born. The following four summers stroking each time a topper down in Madrid: Luis Figo, Zinedine Zidane, the Brazilian Ronaldo, David Beckham. With thanks to the city of Madrid. But also in other Spanish cities to support their local sports club very generously. Muchas gracias!

€ 603.000.000 in the red

After the end of the financial year 2015-2016 is carrying Real Madrid to 603 million euros in debt, of which 342 million in the short term, mainly bank loans and outstanding debts to other clubs for incoming transfers. According to the Spanish generally accepted accounting principles, however, would be ‘only’ a debt of 235 million euros, as we read in the annual financial report of Real, on the web site of the club can be consulted.


After the end of the financial year 2015-2016 is carrying Real Madrid to 603 million euros in debt, of which 342 million in the short term

Compared to that massive debt is that Real Madrid since the arrival of the first Gálacticos its sales more than fivefold over: at the end of last season was that 620 million euro, compared to 578 million the year before. With an estimated value of 3.3 billion euro shows its Real on the second place on the Forbeslijst of most valuable sports clubs, after the Dallas Cowboys (American Football), but ahead of archrival FC Barcelona. In the top 20 there are also two other football clubs: Manchester United (5th) and Bayern Munich (12th). It says something about the global value of football, if you are that marketing, as opposed to ‘American’ sports like American football, NBA and baseball.

Caja Madrid

Real Madrid is doing so financially well, if you put it on the short-term view, but much less wonderful looks of the medium-term, hence the mountain of debt. Moreover, Real this status can only reach thanks to the generous intervention of the city of Madrid at the end of last century. The most successful club Europe has the status of a major bank to pay: ‘too big to fail’. If necessary, the government will have to intervene. Going bankrupt is not an option.

Downright hallucinatory is it only when you see that Real, despite that towering mountain of debt, crazy transfers is to continue to do that. In the summer of 2009, hit the club go out first. Florentino Pérez – he – was just re-elected president, and again he promised toptransfers. In particular: Cristiano Ronaldo of Manchester United and have Won by Milan. Together accounted for 159 million euros. Ronaldo was 94 million euros, even the most expensive footballer in history. And there were summer still have some players out: Xabi Alonso (35.4 million), Karim Benzema (35 million) and Raúl Albiol (15 million). Better try to be than Barcelona if that costs money.


At a time when Spain 6 million job seekers know, the unemployment rate is 26 percent and the half of the -25-year-olds without a job, get a transactions something immoreels

The two most expensive transfers of summer cover lends Real about 140 million euros to the Caja Madrid, a savings bank with which the club has for many years closely intertwined, and that during the banking crisis of 2008, the heavy blows received after the expensive acquisition of the City National Bank of Florida. Real obtain a reduced rate of Caja: the Euriborrente (the “Euro Interbank Offered Rate’, the benchmarktarief on the European money market) – at that time – 1,626% plus 1.5%. The former CEO of Caja Madrid is four years later, was actually arrested on charges of reckless management.

In 2010, the merger of the Caja Madrid and six other banks to Bankia, that as a result the largest bank of Spain. Caja Madrid has 52,06% of the shares of the fusiebank in the hands. Two years later, Bankia was nationalized, and go begging to the European Union, for an amount of € 18 billion. Bankia gives the loan for Ronaldo even as collateral to get more money from to weeks.

100 million vs 26% unemployment

Cristiano Ronaldo and Gareth Bale © Belga Image

Real has the loan of 140 million euros neatly paid off within the agreed term of five years. But you do get the sense that a bank in distress heavy risks it has taken by working with a company in distress. And that you, as a European citizen, the risks have worn to allow players to transfer. But it doesn’t stop there.

In the summer of 2013, buy Real Madrid Gareth Bale away from Tottenham Hotspur. The Dutch boss will cost officially just less than 94 million euro – to the ego of Cristiano Ronaldo not to hurt, so he remains the most expensive player on earth, in reality it is a transfer fee of about 100 million.

At a time when Spain’s six million job seekers know that the unemployment rate is over 26 percent and that half of the -25-year-olds without a job is, such a transaction is something immoreels. Of the ten most expensive transfers of all times were actually nine realized after the banking crisis of 2008. Four of the ten are in the name of Real Madrid.


Of the ten most expensive transfers of all times were there nine realized after the banking crisis of 2008. Four of the ten are in the name of Real Madrid

And Juventus, you’ll wonder, now that you so far have read through in this little voetbalvriendelijke piece? The club from Turin achieved in the financial year 2015-2016 with a turnover of 387,9 million euro. On the other hand, a debt of 199,4 million euros. Last summer, took Juventus to the Argentine striker Gonzalo Higuaín for ninety million. He lands thus after Paul Pogba (105 million), Gareth Bale and Cristiano Ronaldo on the fourth place in the ranking of all time. The difference: the other three were on their 24th transferred, with their best years still ahead of us. Higuaín was almost 29, he can, at most, three seasons at the top level. So he is a very expensive bird, if your price, quality and efficiency against each other marketing.

802,4 million euro. That is the common case of Real and Juventus. Maybe you should still just take a short pause just before them Saturday at a quarter to nine kick off in the Millennium Stadium of Cardiff.

Gonzalo Higuain © Belga Image

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