Afternoon:
14°c
Spanish banks funding Real Mardid spending spree
16.06.09
Real Madrid have been given two loans totalling £130million to help their mammoth summer spending spree.
Last week new Real president Florentino Perez signed Kaka from AC Milan for £59m and agreed an £80m fee with Manchester United for Ronaldo.
It is now claimed that Spanish building society Caja Madrid and the country's largest bank, Banco Santander, have each lent the club £65m.
Madrid did not comment but Spain's Finance Minister Elena Salgado has criticised the loans.
She said: “It surprises me, and what I would ask banks is that if they have liquidity, that they also make loans to small and medium-size companies and families.”
