Real Madrid Over €600 Million in Debt
MADRID (FNA) - Real Madrid's debt has grown to €602 million, according to figures released to club members.
The amount that the European champions owe to banks, creditors the Spanish government and others has grown 11.3 per cent, from €541mln, in the past year, Goal reported.
The largest chunk of their gross debt is made up by payments which must be fulfilled within 12 months (€267mln), but long-term debt still makes up a large chunk of the total (€241mln).
In the 12 months leading up to June 30, 2014, Real Madrid's income did rise, albeit only by 5%, to €550mln. This included a €60mln jackpot for winning the Champions League.
Since the cutoff date for the latest figures, the Blancos splashed an estimated total of €115mln on Toni Kroos, James Rodriguez and Keylor Navas before selling midfield pair Xabi Alonso and Angel Di Maria for around €85mln.
The president of Valores del Madridismo, which is made up of club members which aim to preserve the values of Real Madrid, fears that the Blancos' spiralling debt will eventually backfire.
The largest chunk of their gross debt is made up by payments which must be fulfilled within 12 months (€267mln), but long-term debt still makes up a large chunk of the total (€241mln).
In the 12 months leading up to June 30, 2014, Real Madrid's income did rise, albeit only by 5%, to €550mln. This included a €60mln jackpot for winning the Champions League.
Since the cutoff date for the latest figures, the Blancos splashed an estimated total of €115mln on Toni Kroos, James Rodriguez and Keylor Navas before selling midfield pair Xabi Alonso and Angel Di Maria for around €85mln.
The president of Valores del Madridismo, which is made up of club members which aim to preserve the values of Real Madrid, fears that the Blancos' spiralling debt will eventually backfire.