Real Madrid Faces Allegations of €120 Million Financial Irregularity
The allegation is significant in nature!
Real Madrid is one of the biggest football clubs in the world, and also one of the most successful. They have billions of euros in revenue. At one time, they gathered the world's biggest stars and formed the "Galacticos" of the Spanish club. Even without the Galacticos, the top footballers always gathered in the Real team. However, they have never been accused of any financial misconduct or irregularities. But now, an accusation has surfaced. British newspaper The Telegraph claims that Real could not account for €120 million in financial reports from 2017 to 2020.
According to an investigation report by The Telegraph, Real Madrid classified the expenditure of €120 million as "other expenses" in their financial statements during the period from 2017 to 2020. The Telegraph sought to find out from Real Madrid about such a significant amount of expenses, but the British newspaper did not disclose anything about this matter.
The Telegraph believes that this money is part of a secret agreement of Real Madrid. Their allegation is that Real has received this amount of money from someone in exchange for providing a share of the future revenue from sponsorships, and they have immediately spent that money without causing any immediate damage. This has deviated from UEFA's financial fair play policy, according to the newspaper. The Telegraph published this report yesterday, Wednesday.
The Real Madrid administration, however, has categorically denied the entire issue, according to Spanish media Marca. Although The Telegraph attempted to contact Real Madrid's administration for communication, they did not want to make any comments.