Real Madrid: In the way of the Financial Fair Play

For four seasons Real Madrid did not close the balance of the sale of players in summer positively. After 348.5 million euros accumulated deficit in transfers of players from season 2008-09, the white club closes the sales and signings this summer with a surplus of 10 million euros (also had an income by Javi Garcia's move from Benfica to Manchester City, 3 million by the solidarity mechanism).

Esteban Granero playing for QPR

"This summer market period has been an example for society, showing respect for the economic and social state of Europe, spending less than we have earned and doing two fantastic operations, Lass and Granero" said Mourinho.

The manager of Real Madrid is implementing what will be a requirement from the 2014-15 season, the 'Financial Fair Play', because UEFA will ban participation in continental competitions to those teams that spend more than they earn. By the way, the white club fits the picture of the economic situation in Spain by implementing the axiom that today all the politicians have in the mouth: "Do not spend more than what is entered".

Real Madrid do not get this achievement since 2008, although the balance sheet of that season ended in losses. That summer seemed likely to lead to a comfortable surplus thanks to sales of 65 million euros: Robinho (42), Baptista (10), Soldado (6), Balboa (4) and Granero (3). The summer signings 'only' cost 33.7 million euros: Van der Vaart (15), Garay (10), De la Red (4.7) and Javi Garcia (4). The profit of 31.3 million euros was eliminated in the winter market with the signings of Huntelaar (27) and Lass (20).

Thus, taking into account full seasons, Real Madrid has got profit with the transfer of players only in two seasons in the last quarter century. In the 03-04 white team only undertook the signing of Beckham, which was offset by sales of Makelele, Geremi and Valdo. In the 98-99 season, in which the sales of Zé Roberto and Amavisca left a small profit of 2 million euros. Real Madrid have the opportunity this season to get a positive balance of transfers if does not buy in the winter market (or spends less than 10 million).

Historically Real Madrid buys much more expensive than it sells. In few cases the team achieves gains with subsequent sales of players: Robinho (24 million payment and 40 million incoming) or Michael Owen (12-24). Some like Figo came from Barcelona for 60 million euros, but Schuster, for example, landed free from the Camp Nou. Others like Zidane (72) and Cristiano Ronaldo (96) do not seem expensive to the performance provided. However, despite the high prices of the signings, Real Madrid enjoys a good financial health. In 2011 had a net debt of 170 million euros, equivalent to a value of 1.1 Debt / Profits (before taxes), which places the white team in the first rank of solvency.