Florentino Perez has told Real Madrid members they need to sell their shares to keep paying the wages of their superstar players.
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Real Madrid in €2bn of debtBernebau refurbishment cost €1.6bn in borrowingPerez urges members to sell shares in order to privatise clubFollow GOAL on WhatsApp! 🟢📱WHAT HAPPENED?
Real Madrid, who since their founding in 1902 has been owned and run by club members, look set on selling some of these members' shares for the first time ever, as club president Perez looks to pay back loans and fund expensive contracts through the gradual privatisation of the club.
AdvertisementGetty Images SportTHE BIGGER PICTURE
Real Madrid have always been known as a club willing to pay over the odds for the players they want, particularly under Perez. Cristiano Ronaldo, Gareth Bale, Vini Jr, Bellingham and countless others have all had eye-watering deals at the club, and over the years these contracts, as well as other investments – such as refurbishing the Bernabau – have seen the club slowly rack up considerable debt.
As a result, the report that Perez's plan is to urge some club members to sell their shares in order for an investor to move in and help fund their expensive habits. There is one major issue though, as there are over 100,000 members, most of which have had their memberships passed down over generations, making them unlikely to sell.
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Perez was one of the masterminds behind the failed European Super League as La Liga revenues are significantly less than those made by the Premier League, and now he is trying to find other ways to raise capital.
Getty Images SportWHAT NEXT FOR REAL MADRID?
Los Blancos travel to Leganes on Sunday. Should Real Madrid win, they will close the gap on first-placed Barcelona to four points, after the Catalans were held to a 2-2 draw by Celta Vigo earlier this weekend.
