Perez could land Real Madrid with 600 million euros of debt
The Madrid chief wants a loan to push through with stadium redevelopment plans
Florentino Perez has not made any big money signings but he is hoping to make a huge investment off the pitch at Real Madrid.
The presdient has decided to push through with plans to land the club with a loan of nearly €600 million, according to Diario AS on Saturday.
At the club's General Assembly later this month (Sept. 23), Perez will ask the Madrid's 2,200 delegates (he would need the backing from two thirds of them) to give the green light to a request for €575m in credit.
The amount would have to returned over a period of 35 years and would be spent on putting metallic “skin” around the Santiago Bernabeu.
AS explain that Perez's proposals do not include expanding the capcity at the European champions' home ground, with the original fee of €400m already shooting up.
The loan which the Madrid chief hoeps to obtain, if approved by club members, would include "interest rates and other costs which correspond with the market at the moment in which the debt is formalised," according to the cited media.
Remember that Real Madrid say operating revenue for 2017-2018 reached €750m, a figure which does not include the sale of some players, above all Cristiano Ronaldo, who joined Juventus for more than €100m.
