They are still over the wage cap by as much as 30% and should never have been allowed to buy any new players. They had to get rid of half their squad and they never did that and this should cost them points as a penalty. La Liga holds all the players contracts in Spain. The TV rights they sold for $520 million and the retail arm for their merchandise they sold 50%. This revenue from tv equates to over $40 million per season for 25 years so over $1 billion for $500 million basically half price. This money is not being used to fund their debt but to purchase players which is absurd as the hole is only getting deeper with less revenue coming in.
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It's a ridiculous gamble on their part for short term success vs longer term financial stability.
A lot of the players they are buying also have little to no resale value because of their age. They are simply an expense and not an asset.
I’m also surprised that so many top players are still choosing to sign for them given that they’re current squad is still owed wages from a couple of years ago!