Who paid for Bale?
- Thread starter spursram
- Start date
jimburns1973
Active Member
- Jul 26, 2005
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Am I wrong or is this a non story. It seems to say a Spanish Bank has guaranteed money to a business (Real Madrid)??? Surely this happens all the time.
It's a state owned bank, who've been bailed out by taxpayers money, who then spend the money on an extremely expensive footballer. Don't see anything wrong with that??
Better use than they usually use their money for.
Having to compensate small shareholders for false prospectus,
Senior officials involved in a credit card scandal.
Anyway it's not wholly owned by the State (60%+ only)
so they will have used the other 40% to buy Bale.
He's an increasing asset anyway.
A Bankia to be avoided though!
Having to compensate small shareholders for false prospectus,
Senior officials involved in a credit card scandal.
Anyway it's not wholly owned by the State (60%+ only)
so they will have used the other 40% to buy Bale.
He's an increasing asset anyway.
A Bankia to be avoided though!
Geyzer Soze
Fearlessly the idiot faced the crowd
- Aug 16, 2010
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They didn't spend the money, they guaranteed a loan if i'm not mistaken?
Nothing new, they've been underwritten by the bank for decades.
It's how they managed to buy the Galacticos and pay such high fees, not such an issue now as they have the revenue to pay for it but at one time it was scandalous that a football club should be bankrolled in this way.
It was beyond just normal business operations by the bank, as Royal Madrid the club held/hold an unfair position in both the footballing world and Spain in general, having debt in essence guaranteed by the state and Spanish Royal family.
It's how they managed to buy the Galacticos and pay such high fees, not such an issue now as they have the revenue to pay for it but at one time it was scandalous that a football club should be bankrolled in this way.
It was beyond just normal business operations by the bank, as Royal Madrid the club held/hold an unfair position in both the footballing world and Spain in general, having debt in essence guaranteed by the state and Spanish Royal family.
Ah that's alright then isn't it... taking taxpayer's money and using it to guarantee a loan to buy an expensive footballer. Rather than, yknow, wasting it.
jimburns1973
Active Member
- Jul 26, 2005
- 187
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They still owe the bank the money. Essentially Bale is an asset they have borrowed money to buy.
Meanwhile, the 46% of unemployed Spanish youth can watch a young Welsh chap on TV running very very fast in a Real kit and think "thankfully our government and our government owned banks have their priorities right".
bigspurs
Well-Known Member
- Aug 9, 2005
- 3,193
- 2,419
The club is a disgrace and the whole government run bank situation there is suspect to say the least!
So basically they should hand Bale and rat boy back to us ASAP with no questions asked.
The club is a disgrace and the whole government run bank situation there is suspect to say the least!
So basically they should hand Bale and rat boy back to us ASAP with no questions asked.
... and we keep the money. That'll lern 'em.
hellava_tough
Well-Known Member
- Apr 21, 2005
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I would have thought that the taxpayers' money was given so the bank could continue with business as usual.
Surely underwriting debts is part of business as usual; the bank will get a fee for it, thus making the transaction a profitable business enterprise.
I'm not saying Real Madrid and the rest of them aren't bent as hell, but in this instance you'd think that the bank hasn't done anything unlawful.
Surely underwriting debts is part of business as usual; the bank will get a fee for it, thus making the transaction a profitable business enterprise.
I'm not saying Real Madrid and the rest of them aren't bent as hell, but in this instance you'd think that the bank hasn't done anything unlawful.
Who is "ratboy" 'bigspurs'?The club is a disgrace and the whole government run bank situation there is suspect to say the least!
So basically they should hand Bale and rat boy back to us ASAP with no questions asked.
Chedozie
Well-Known Member
- May 19, 2005
- 2,631
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It's a alternative name some people use for Modric.
bigspurs
Well-Known Member
- Aug 9, 2005
- 3,193
- 2,419
Misfit
President of The Niles Crane Fanclub
- May 7, 2006
- 21,229
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Pah, you're just like against rampant corruption and the growing globalist agenda which will enslave us all under a world government run for the benefit of a handful of corporations.
Weirdo!
Gaz_Gammon
Well-Known Member
- Apr 16, 2005
- 16,047
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Who gives a shit...............
Money's been blown anyway....
Money's been blown anyway....
diamondlight
Well-Known Member
- Nov 16, 2006
- 1,263
- 1,326
It's not the government's role to give people jobs. In fact, governments getting involved in the economy is a surefire way to destroy jobs.
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