Real Madrid has received loans worth 153 million euros to pay for new players to build its team of new "Galacticos," such as Kaka and Cristiano Ronaldo
Real Madrid has received loans worth 153 million euros to pay for new players to build its team of new "Galacticos," such as Kaka and Cristiano Ronaldo.
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A spokesman for Caja Madrid savings bank said Tuesday it had lent Real 76.5 million euros, "half of the total".
The newspaper El Mundo reported Real had received two loans, one from Caja Madrid and the other from Santander bank to pay for new players.
Neither Santander nor Real would confirm the report.
El Mundo said the loans would be guaranteed by the 600 million euros that club will receive from the Mediapro group for television broadcast rights of its matches.
New Real president Florentino Perez has vowed to create a "spectacular team" capable of overtaking arch-rivals Barcelona next season.
During his first stint as president, from 2000 to 2006, he oversaw the era of the "Galacticos" when world stars such as France's Zinedine Zidane, England's David Beckham and Brazil's Ronaldo were attracted to the club.
This month, he signed Portuguese winger Cristiano Ronaldo from Manchester United for a world record 94 million euros, days after paying AC Milan 65 million euros for Brazilian playmaker Kaka.
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