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SBD Global/October 17, 2013/Franchises
Former Real Madrid Finance Dir Juan Onieva Rips Real President Florentino Perez
Published October 17, 2013
Q: Have you seen Real Madrid's accounts?
Onieva: Yes, and I have seen what economic experts have said about them. I remember that one of Perez's main principles when he arrived in 2000 was the importance of eliminating what he called a "scandalous debt."
Q: How much debt did you and Sanz leave behind for Perez and the club?
Onieva: Less than half of what there is now. It was at around €260 million. And 50 percent of this debt was from repurchase of image rights, something fundamental in helping Real Madrid later increase its revenue.
Q: How do you evaluate Perez's management?
Onieva: It is clear that Perez's ultimate goal is make the club a PLC and end up controlling it. To do this, he has brought the debt to a limit. It is an old plan of his that comes from 2000. His economic plan is a preconceived plan. What he did not count on was athletic difficulty. It is not a question of of opinions, it is about facts. The debt is scandalous and the €400 million ($540M) Santiago Bernabeu project is absurd. Eventually, the debt will be €1 billion ($1.3B) and Perez will still say, "I did not want it, but..."
Q: What do you think of how the roster has been managed?
Onieva: He has shown his lack of knowledge of what makes a team. You sell shirts based on sporting success. We are the only big European club that has not played a Champions League final since 2003. It’s a complete sporting disaster. It is ridiculous for the president of a team like Madrid to be happy with reaching a few semifinals. We have the biggest budget in the world (AS, 10/14).