There is growing concern at Real Madrid at the club’s precarious financial situation as the club consider serious cutbacks this summer.
As outlined by a report in Diario Sport, a precarious financial situation due to the potential ramifications of the Covid-19 has been furthered by the lack of commitment of two primary sponsors.
Fly Emirates and Adidas are said to have informed Los Blancos that they are not able to match the current financial agreements they have with the club.
Adidas had committed to pay Madrid a whopping €110m per season for 10 successive years, while the airline had a €40m per annum deal in place with the Spanish champions.
This has been coupled with Madrid’s mass renovation project at the Santiago Bernabeu – which is not to increase the stadium capacity but the potential of the stadium to make money through other areas, such as a shopping centre and a hotel.
The club have been one of the hardest hit by the pandemic due to the percentage of their income which is made up by matchday revenue and by fan tours of the stadium and museum, which were forced to be closed for months.
Madrid are now said to be under pressure to clear a chunk of their wage bill going into next season and aim to raise further funds through player sales.
