Madrid Press: New Bernabeu hit by finance problems

Madrid Press: New Bernabeu hit by finance problems


Attention in the Madrid press is switching gradually now to Spain’s must-win clash with Chile tomorrow night. After their disastrous start to the defence of the trophy they won four years ago, Spain probably need big wins over the South Americans and Australia in their final group game to qualify.

In terms of Real Madrid though, we start with the news in El Confidencial and picked up by AS too that the club has run into problems over the financing of the new Bernabeu.

The club wanted to sell more than 200 million euros in bonds and share issues to pay for part of the project, but having spoken to various banks, they realise this is now not possible. The explanation behind it is that the club does not have the financial rating to go to the capital markets, meaning Madrid would have to pay a high interest placed in fixed income securities – as much as 10%.

One of the major problems is that Real Madrid is not considered sports society with shareholders, meaning the likes of Standard & Poor’s and Moody’s would have to assess it differently.

Elsewhere, former Los Blancos forward Hugo Sanchez has called on the club to sign Luis Suarez and says the Uruguay striker has all that it takes to be a success in the Spanish capital.