Real Madrid now 541 MILLION in debt
Carlos Mendoza, who was banned from speaking at Real Madrid's stakeholders' meeting, claims the club's debt is now a staggering 541 MILLION. Mendoza is a Real Madrid Assembly's delegate and critical of president Florentino Perez's management of the club.
He told AS: "The main thing is that the club's debt is €541 million, which is the sum of current liabilities, which is what should be long-term and current liabilities and which should be short term.
"Florentino only recognizes the net debt, which is what is due exclusively to banks, about 90 million.
"But then, Madrid has more debt than banks: they have to pay the players, the clubs, the sports organizations, with governments, suppliers. All this adds to 541 million euros, which is more than double the debt Florentino Sanz Lorenzo created.
"And on top of this debt, wants to face a reconstruction of the Bernabéu that he valued at 400 million euros. And then he said he had no way to finance it, but will resort to ingenious ways."
For breaking stories and all the great banter like us on Facebook: facebook.com/tribalfootball