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Real Madrid and the ESL

Real Madid president Florentino Pérez was the prime mover behind the failed European Super League project.

Real Madrid has been €400m short of budget over the last two seasons, has an outstanding loan of €575m for the redevelopment of its Bernabéu stadium and has a reported €200m in emergency government-backed coronavirus loans.

Pérez was elected club president in 2000 and make Real Madrid a more commercial proposition.  This was initially through the signing of 'Galatico' marquee players such as David Beckham and Luis Figo.  This was largely financed by a €500m property deal in which the club's old training ground was transformed into high end office space.   The club also increased its global presence and profile, not least in Asia.

The ESL deal made use of Key Capital, a little-known Madrid-based brokerage and advisory boutique.  One of the firm's partners, Anas Laghari, was expected to be the general secretary of the company set up to run the ESL.

Although he has taken a battering over the ESL project, the same imperatives are still there.  Having spent three or four years on the project, Pérez will be back with a new version when the dust has settled.


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