Real Madrid saddled with a debt of €541 million

Real Madrid have found themselves in heavy debt

Spanish giants Real Madrid have accumulated a debt of €541m but sources in the La Liga have stated that the club is more than capable of clearing it, Football Economy reports.

Carlos Mendoza, President of the Association for Madrid’s Values, economist Jose Maria Gay de Liebana and Placido Rodriguez, the director of the Sports Economics Observatory have confirmed reports that the club owe this astronomical sum in debts.

In spite of that La Liga officials have stated that the club will experiences no difficulties in clearing the sum.

“The club has the capacity to deal with the debt and the figures show that Madrid is economically solvent, within the economic controls established,” a statement read.

The Los Blancos have been credited with ‘excellent financial management’ in the statement and the UEFA as acknowledged the net debt for the Fair Play regulation, which stands at 18 per cent for Madrid, which gives proof of the ‘the financial excellence of the club’.

Real Madrid have always created waves by signing players with price tags such as Cristiano Ronaldo for £80 million from Manchester United and most recently Gareth Bale for €91 million from English club Tottenham Hotspur.