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Real Madrid called to answer unexplained €122m expenses in club account

Real Madrid have been asked to explain why €122m in expenses have not been explained in their club accounts.

The Telegraph released an exclusive report on Wednesday, as echoed by MD, which show that Real Madrid have refused to explain €122m in their club accounts.

Their annual report attributes around €135m to ‘other operational costs’, €13.6m of which was made in payment to La Liga – something required of all La Liga clubs.

When contacted, the club neither confirmed nor denied that those costs were part of a deal to sell future sponsorship money to a firm called Providence.

In 2017-18, the club reached an agreement with the company in order to bring in cash to cover losses of at least €216m between the years of 2014 and 2017. Real Madrid have not confirmed how that money is to be repaid, although they renewed the agreement in 2019-20. As a club owned by their members, President Florentino Perez is required to explain the club accounts to the membership.

However The Telegraph allege that this money was a sale in exchange for a percentage of future sponsorship money. The tax office in Spain regard this as debt, although the English paper point out that nothing in this deal would be illegal.

Nevertheless, it could raise questions with UEFA as to how this money is accounted for, and whether it might bring Los Blancos in breach of Financial Fair Play rules. That would in turn open them up to sanctions.

The advantage of the operation is that Los Blancos would not have to take on debt in loans, and thus increase their costs with rates of interest.

They go on to highlight that these unexplained ‘other operational costs’ have risen year upon year, reaching 20% of their income in 2022. Real Madrid have also recently sold 30% of the income from their newly renovated Santiago Bernabeu stadium for the next 20 years to Sixth Street for €360m, the same business which bought a percentage of Barcelona’s TV rights from La Liga for the next 25 years.

Los Blancos have been praised for their prudence and financial management in recent years, riding out the pandemic without major problems. However if The Telegraph’s suppositions are correct, it would colour matters in a different light.

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Newstap/SWAN Five Star Sports Award  Excites Ebi Egbe

 

Chief Executive Officer of Monimichelle Sports Facilities Construction Ltd, Ebi Egbe says he’s highly honoured to be nominated as one of the receipients of the forthcoming maiden Newstap SWAN Five Star Sports Award

He stated this when he received his letter of nomination from the Editor of Newstap Communications and South West Secretary General of Sports Writers Association of Nigeria.

According to him, the recognition is an indication that Nigerians value what his company is doing noting that they’ll never compromise standards but will be moving with technological innovations.

“It’s always nice to be recognized. At Monimichelle Limited, we’ve been doing our best to make sure we bring in the best for sporting infrastructure not just in Nigeria, but the entire African continent. So I’m excited to be receiving this award from Newstap Communications and SWAN

” I also want to say that what this award shows is that the world is following our good track record. And this have really propelled us to continue doing what we’re doing. So I want to appreciate the organisers of this award for finding me worthy to be honoured.
He also assured Nigerians that his company will continue to provide the best services which is in tune with the latest technology.

“At Monimichelle, we don’t like to sit at the back seat. Even though we are an African company servicing African market, we’re following technology as it’s revolving in the world because technology changes everyday in the sports industry and we always make sure we give our clients the best of services and will continue to do so”, he concluded.

CEO of Monimichelle Group Ebi Egbe (middle) flanked by Editor of Newstap, Ifeanyi Eduzor (right) and Sports Writers Association of Nigeria (SWAN official Charles Ogundiya when Egbe received his letter as one of the recipients of the Newstap/ SWAN Five-Star award billed for March 7 in Lagos.

Other reciepients of the Five Star Sports Award includes, the Executive Governor of Benue State, His Excellency, Rev. Fr. Hyacinth Alia, GTI Assets Management and Trust Limited, a company that has turned around the nation’s premier league, the NPFL, President of Remo Stars, Kunle Soname and Chairman of Benue State Football Association who is also the only founder of two women clubs in Nigeria – Naija Ratels and Benue Queens, Barrister Paul Edeh.

The event comes up on Friday, March 7, 2025 at the Bamboo Hall of the prestigious Eko Club, off Bode Thomas Street Surulere, Lagos.

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Karim Benzema Hints Return To Real Madrid

Karim Benzema Hints Return To Real Madrid

Real Madrid legend Karim Benzema has hinted at a desire to return to the club once he has brought down the curtain on an illustrious playing career.

Benzema is second on Madrid’s list of all-time goal-scorers, ahead of icons Raul and Alfredo Di Stefano, having netted 354 times across 14 years. He is also fifth on the club’s all-time appearance list, playing 648 games between 2009 and 2023.

Madrid have welcomed former players back in a variety of off-field roles in the past, with 1980s stars Jorge Valdano and Emilio Butragueno among those to have had prominent executive positions. Raul has been in charge of Real Madrid Castilla since 2019, with Alvaro Arbeloa currently a youth coach. Santiago Solari had spells in charge of various sides up to first-team level, with Zinedine Zidane famously serving as an adviser before two spells as head coach.

Benzema admitted in a Mega interview that he doesn’t know if coaching is the path he wants to take, only that he wants to be “close” to president Florentino Perez.

“The other day, I was with Florentino in Madrid. When he signed me [in 2009], I told my father that as long as he was at Real Madrid, I would be there,” the Frenchman explained.

“He was the first person I called when I decided I was leaving. He didn’t quite understand…I told him that the youngsters, Vinicius and Rodrygo, were ready. When I retire, I want to be close to football. Coach? I don’t know, it seems more complicated than being a player. I want to be close to Florentino.”

Benzema, now 37, is currently in his second season with Saudi Pro League giants Al Ittihad.

“I feel good here,” he said. “My life is like in Madrid. I get up, train at home in the gym and in the afternoon I train with the team. In the evening, I sometimes go out to dinner or to the beach. Here you can’t walk down the street either, people are crazy about football.”

 

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Fulham Condemn Manchester United Fans Racist Abuse on Calvin Bassey

Fulham Condemn Manchester United Fans Racist Abuse on Calvin Bassey

Fulham have condemned the “abhorrent” racist and homophobic online abuse directed at Nigerian defender Calvin Bassey following Sunday’s FA Cup penalty shootout win at Manchester United.

Nigeria defender Bassey, who scored the opening goal at Old Trafford, shared some examples of the unsavoury abuse he had received on social media.

“We strongly condemn this abhorrent behaviour, which has no place in football or society,” Fulham said in a statement.

“Such actions are entirely unacceptable, and we stand in full support of Calvin Bassey, who will continue to receive our full backing.

“We will do everything in our power to work with the relevant authorities in identifying the perpetrators of these vile messages and taking the strongest form of action against them.”

Bassey’s online abuse follows recent cases involving Everton midfielder Abdoulaye Doucoure, England defender Kyle Walker, Newcastle United’s Joe Willock and Manchester City’s Khadija Shaw.

In a recent interview with BBC Sport, Samuel Okafor, chief executive of anti-discrimination body Kick It Out (KIO), said the level of abuse in English football had “reached crisis point”.

Bassey’s goal was cancelled out in the second half by Bruno Fernandes, with the game staying level at 1-1 at the end of 90 minutes and extra time.

Victor Lindelof and Joshua Zirkzee missed for United in the shootout to send the Cottagers into the quarter-finals, where they will host Crystal Palace at Craven Cottage.

BBC

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