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Gareth Bale's arrival at Real Madrid brings mixed feelings in crisis-hit Spain Gareth Bale's arrival at Real Madrid brings mixed feelings in crisis-hit Spain
(17 days later)
Like the astronomical salaries of CEOs, the world of top footballers appears to be recession-proof. Never mind that most Spanish clubs are hugely in debt and many haven't paid taxes for years, Real Madrid have coughed up €100m for the Welsh winger Gareth Bale. Bale will be paid €6m a year – €1 for each of Spain's 6 million unemployed. He is 24 but he won't be among the 56% of Spain's under-25s who are out of work, nor the others who are stuck at home on salaries of €600 a month.Like the astronomical salaries of CEOs, the world of top footballers appears to be recession-proof. Never mind that most Spanish clubs are hugely in debt and many haven't paid taxes for years, Real Madrid have coughed up €100m for the Welsh winger Gareth Bale. Bale will be paid €6m a year – €1 for each of Spain's 6 million unemployed. He is 24 but he won't be among the 56% of Spain's under-25s who are out of work, nor the others who are stuck at home on salaries of €600 a month.
"It's a sad day," said Toni, a waiter in Barcelona. "While the country is sunk in misery, families are ruined and children are growing up in poverty, this guy turns up and we pay €91m for him. Really, we've lost the plot.""It's a sad day," said Toni, a waiter in Barcelona. "While the country is sunk in misery, families are ruined and children are growing up in poverty, this guy turns up and we pay €91m for him. Really, we've lost the plot."
"I think Spanish clubs should stop spending on foreign players and instead invest in youth teams," said Miguel, a student from Tarragona. "Besides, Barcelona have won 16 cups spending half what Madrid have. And if this money is a loan guaranteed by Bankia, as it was when they signed Ronaldo, maybe we'll all end up paying for it, not Madrid.""I think Spanish clubs should stop spending on foreign players and instead invest in youth teams," said Miguel, a student from Tarragona. "Besides, Barcelona have won 16 cups spending half what Madrid have. And if this money is a loan guaranteed by Bankia, as it was when they signed Ronaldo, maybe we'll all end up paying for it, not Madrid."
Despite Spain's dire economy and colossal unemployment, reading through the hundreds of readers' comments in the Madrid sports daily Marca, the prevailing argument is not that paying such a fee is scandalous or whether Bale is worth it, but whether he will be successful and, above all, if he will help the club to overtake Barcelona.Despite Spain's dire economy and colossal unemployment, reading through the hundreds of readers' comments in the Madrid sports daily Marca, the prevailing argument is not that paying such a fee is scandalous or whether Bale is worth it, but whether he will be successful and, above all, if he will help the club to overtake Barcelona.
"The crisis is over, Bale is here," quipped one reader. "There's no bread on the table but no worries, we've got Bale.""The crisis is over, Bale is here," quipped one reader. "There's no bread on the table but no worries, we've got Bale."
After the anticipation of an on-off transfer story that has been running all summer, about 30,000 fans turned out at Real Madrid's Bernabéu stadium to welcome the player. Bale, accompanied by his family, won the fans over by kissing the team's badge. He then said, in Spanish: "It's always been my dream to play for Real Madrid. Thank you for such a warm welcome."After the anticipation of an on-off transfer story that has been running all summer, about 30,000 fans turned out at Real Madrid's Bernabéu stadium to welcome the player. Bale, accompanied by his family, won the fans over by kissing the team's badge. He then said, in Spanish: "It's always been my dream to play for Real Madrid. Thank you for such a warm welcome."
In his first press conference Bale said the money wasn't an issue. "I would have signed for a cent," he said. He was also quick to praise his fellow player Cristiano Ronaldo, who many believe is jealous of Bale. While the talk is of Bale signing for €100m, the figure released by Madrid is €91m, ensuring it is not higher than the €96m they paid for the prickly Ronaldo.In his first press conference Bale said the money wasn't an issue. "I would have signed for a cent," he said. He was also quick to praise his fellow player Cristiano Ronaldo, who many believe is jealous of Bale. While the talk is of Bale signing for €100m, the figure released by Madrid is €91m, ensuring it is not higher than the €96m they paid for the prickly Ronaldo.
Prof Sandalio Gómez of IESE Business School's centre for sports business management, an expert on Real Madrid, said that when it came to football you had to look at the investment from both an economic and a sporting perspective. "Trophies aren't worth much economically, but winning attracts sponsors and TV rights. Real Madrid paid the same amount of money for Cristiano Ronaldo as for Bale and no one disputes that it was money well spent because of the attention it brings the club. Or look at David Beckham. They didn't sign Beckham to play football because they didn't need him for that; they needed him because the media love him and for that reason he was a profitable signing. Bale is not a media star, but if he's successful as a player, he could become one."Prof Sandalio Gómez of IESE Business School's centre for sports business management, an expert on Real Madrid, said that when it came to football you had to look at the investment from both an economic and a sporting perspective. "Trophies aren't worth much economically, but winning attracts sponsors and TV rights. Real Madrid paid the same amount of money for Cristiano Ronaldo as for Bale and no one disputes that it was money well spent because of the attention it brings the club. Or look at David Beckham. They didn't sign Beckham to play football because they didn't need him for that; they needed him because the media love him and for that reason he was a profitable signing. Bale is not a media star, but if he's successful as a player, he could become one."
In Spain, the bakery may have shut down but the circus is still hiring, it's paying top dollar, and the public love it.In Spain, the bakery may have shut down but the circus is still hiring, it's paying top dollar, and the public love it.
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