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Salary 100 thousand plus quid. Transfer to City? 30 million
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When the new UEFA financial rules that link expenditure to income, yuh blood gween bitta when it comes to euro football in 2012. Yuh done know sey the current levels of spending and massive debts can not be sustained.Winning means you're willing to go longer, work harder, and give more than anyone else - Vince Lombardi
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Real Madrid have announced that their debt has risen to £296million (327million euros) following a summer of lavish spending.
The Spanish giants embarked on a phenomenal rebuilding project during the transfer window which saw many of the world's top players arrive at the Santiago Bernabeu.
Club president Florentino Perez,who was appointed in June, helped bring in the likes of Cristiano Ronaldo,
Kaka, Karim Benzema
and Xabi Alonso.
The summer spending totalled £226million (250million euros) but it has resulted in massive debt.
However, Real appear to have lost none of their appetite for spending, with the annual assembly also approving a new record budget of £381million (422million euros) for the current season.
"We're going through a delicate moment with the world financial crisis but we had to make a big effort for the new arrivals of players, which explains the debt," explained Perez.
Perez told the assembly that projected revenues, increased on previous years, should see the club cut their debt to around £180million (210million euros) by the end of the season.
The figures are likely to be jumped on by Uefa, whose president Michel Platinihas announced plans to bar clubs from major European competitions unless they restrict their budget to spending only what they earn.
The assembly also heard of plans to remodel the Bernebeu and build a Real Madrid theme park at the club's training ground to enhance future revenue streams.
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Originally posted by Hortical View PostWhen the new UEFA financial rules that link expenditure to income, yuh blood gween bitta when it comes to euro football in 2012. Yuh done know sey the current levels of spending and massive debts can not be sustained.
Whats the purpose of yuh post? Arsenal, Chelsea, Liverpool, Man United, Real Madrid, Inter Milan all have debt. What dem gonna duh, kick out all these teams? The UCL would be watered down."Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)
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