Real Madrid to get multi-million bank loans
Published:Tuesday | June 16, 2009 | 12:42 PM
Big-spending Real Madrid are reportedly set to receive two multi-million euro bank loans to help fund signing Kaka and the expected hiring of Cristiano Ronaldo plus any other player purchases.
Madrid recently signed Kaka and agreed a fee for Ronaldo for a combined EU$159 million as part of president Florentino Perez\'s bid to build a star-studded squad for the nine-time European Cup champions.
Spanish building society Caja Madrid says it has agreed to issue a loan of EU$76.5 million to Madrid, which has put up two undisclosed sources of collateral.
It was also reported that Spain\'s largest bank, Banco Santander, has agreed to lend Real Madrid a similar amount.
A Banco Santander official declined to comment and Madrid did not immediately respond to a request for comment.