​Perez defends Real Madridís expenditure and denies loan rumors

9/19/13 in Soccer   |   KurtKingsley   |   1858 respect

Blog Photo - ​Perez defends Real Madridís expenditure and denies loan rumors
Real Madrid president Florentino Perez insists the club borrowed no money to support the huge splash they made in the transfer market this summer. Perez sanctioned the signings of a long list of expensive players during the offseason. The list included the purchase of Gareth Bale for €100 million.
Perez, who was defending Real Madrid against accusations from Barcelona defender Gerard Pique, claims Los Blancos were strong enough to support themselves. Earlier this week, Pique told reporters that in stark contrast to Real Madrid’s signings Barcelona has the habit of relying on self-produced players.
Media outlets, such as the AS, ha earlier suggested that Real Madrid received monetary help over the record-signing of Bale from Banco Santander. Perez rubbished such reports whilst insisting that Real Madrid took no help on the transfer.
“It is not correct what Pique said,” Perez said. “He is a good kid, so there is no need to keep going on about it.”
Another report suggests Bankia was involved in Bale’s transfer saga, but Perez ruled out financial help from any institution once more.
Pique’s comments on this issue have created a whirlpool of troubles for Real Madrid, especially in front of the media. Bankia was bailed out by the European Union, therefore the lender too has found unwanted attention from the media.
“I have read that Madrid have spent €1.2 billion since 2002,” Pique had earlier commented. “We have spent money as well, but we do not have Bankia.”
In spite of such reports the Estadio Santiago Bernabeu’s extension plans haven’t been halted. An official from Spanish construction company ACS has confirmed that Real Madrid plan on going ahead with the refurnishing and extension of Bernabeu.
“It will cost between €300 million and €400 million,” he said. “In the next weeks the winning project will be decided.”
Real Madrid appear to have an unlimited sources of cash flow, but too seems to have been affected since the much hyped €1 billion Real Madrid Resort Island is apparently being shut down for a while.
“Real Madrid will not go through with the theme park which was planned for the emirate Ras al Khaimah,” Perez said. “We will look to complete the project in another emirate.”
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