Like Barcelona, Real Madrid Also Activated An Economic Lever

Written By Onyeka Daniel

Much has been made about the financial situation at Spanish La Liga side, Barcelona that prompted the club to take the drastic step of selling off some the club’s assets to fund their transfer activities.

More Details

Real Madrid also towed the same path, as revealed by their president, Florentino Perez during the club’s general assembly on Sunday and they sold theirs to the same company as Barcelona, American investment firm Sixth Street.

LATEST POSTS

“In economic terms, the pandemic meant that we lost €200m in income. The 2019-20 season, thanks to a generous and drastic reduction [of salary] from everyone, we managed to close the results [of the accounts] in the black.” Perez revealed.

“It was almost the same in 2020-21, given that, for example, we could only rely on a normal attendance at the stadium, already reduced for the stadium work, from the end of February.

“Recently we have arrived at an agreement for the next 20 years for €360m with Sixth Street and Legends, the best manager of stadiums in the world.” He further added.

The deal was in exchange for 30% of the income from the new Santiago Bernabeu stadium. Should it not have been for that deal, Los Blancos would have made a loss a €127 million loss for last season rather than a €13 million profit that was recently declared by the club.

Barcelona, meanwhile sold just under 50% of Barca Studios and 25% of their television rights for La Liga over the course of the next 25 years.

Meanwhile…

Liverpool coach, Jurgen Klopp has proffered a solution to the problem highlighted by Florentino Perez that football is losing relevance compared to other sports even if he didn’t dismiss the idea from Perez entirely.

Read Also: One Last Dance: The Cristiano Ronaldo And Lionel Messi Debate Looks Finely Poised As Qatar 2022 Approaches

Klopp, was asked for his opinion by BBC Radio about what he thought of on the idea to have more games between the top clubs in Europe to provide a “quality product” which according to the Real Madrid president, football does not do.

“Pffft. No opinion on that. I have nothing to say to that. I think if you want to make football better, we should play less games and give the players more time to train. How’s that? But no opinion on that.” Klopp replied.

Do you have a story tip?
Kindly Email: keepup@bettitude.com

You can also follow us on Facebook, Instagram, Twitter and YouTube

(Sport and BBC)

Bookmark (0)

Please login to bookmark