Kaka and Ronaldo used as collatoral for loan
August 3, 2011 1:07pm CST
Real Madrid has used two of the biggest stars as collatorals to secure loan from a bank. In the event Real is unable to repay the debt, then the bank will take over the ownership of the players. The question now is, Is this legal? For me, it is illegal. If Real Madrid can't afford, then they jolly well sell them to another clubs and live within their means. Why isn't UEFA stepping in and slapping them with the financial fair play ruling. There is a rumbling that certain leeways will be given to Real and Barcelona. Both clubs are cash-strapped yet they are able to financial big money moves, either through bank loans or loans from the state council. I believe had this been one of the English clubs, Michel Platini would have stepped in. What is the difference between this move compared to the old days of master and slaves?
6 Aug 11
That is indeed a very interesting topic. I find this move as disgusting because they treat these players as if they were material objects they can use as collaterals to their bank loans. However, it's because these players are seen as "investments" by companies, businesses and banks. Nevertheless, it's a disgusting move.