UCI Confirms Astana To Keep License Resignation Sparks VW F1 Speculation Adam Johnson To Remain At Sunderland F1 Tech Partners With Aerofoil Energy Thai Businessman Heads To Italy Dortmund Using Unusual Insurance Policy Tottenham In Talks Over Hosting NFL Team Baku 2015 COO Downplays Threat John Brown Urges SFA To Pass Dave King Racing Santander Fans Save Club
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
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).