Real Madrid feel pinch of life after David Beckham
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Real Madrid feel pinch of life after David Beckham
David Beckham's departure from Real Madrid has reportedly helped to plunge the world's richest club into financial difficulties. Real have been forced to ask one of Spain's biggest banks for an emergency loan of €30 million (about £23 million) to cover running costs, according to El Mundo, the Spanish newspaper. As well as the bank loan, it is claimed, directors at the club have been asked to raise additional funds.
Real were named by Deloitte, the accountancy firm, as the world's richest club as recently as February, but despite their vast assets and host of galácticos, their revenue has plummeted thanks to the world's most marketable player leaving for the Los Angeles Galaxy and their early elimination from the Champions League in the past two years.
Despite average attendances of 70,000 at the Bernabéu, Real took only £55 million in gate receipts last season, 60 per cent of Manchester United's takings at the turnstiles. The club's high wage bill and a hefty payoff to Fabio Capello, who earned £4million a year as coach, mean that their margins are under pressure and they have reportedly run into cashflow problems.
Under Ramón Calderón, who was elected president in 2006, Real embarked on a spending spree, buying Arjen Robben, Fabio Cannavaro and Ruud van Nistelrooy. As recently as June, Calderón insisted that the club were in a sound financial state. However, Real missed out on a television rights windfall by going out of the Champions League in the first knockout round to AS Roma.
The absence of Beckham was also felt - more keenly on the club's balance sheet than on the pitch. His departure has cost the club between £24 million and £30 million, according to a study by the University of Catalonia. However, any financial difficulty is unlikely to be felt for long. The club boasted pre-tax profits of nearly £30million last year and a turnover of about £250 million.
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lol still want to offer record fee to ronaldo and fabregas
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the power of beckham....
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Originally posted by anhydrouscoppersulphate:
lol still want to offer record fee to ronaldo and fabregas
ya lor... they think they got unlimited funds liddat...
if they go there oso will demand fat pay cheques...
how to support? rm is dumb club
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25mil for beckham was really worth it man.
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beckham
