Spain economy takes hit with Florentino Perez spendthrift promise

Just when the Spanish economy appeared to be getting back on its feet, a double whammy of news has broken to send Iberian finances back into the doldrums.

The combined effect of FIFA banning Real Madrid from transfers for 18 months, and Florentino Pérez announcing in the French press on Wednesday that there were no plans for any winter window spending, has caused hundreds of thousands of job losses across the land. “We have the best team in the world, we are not going to sign,” the Madrid president declared to France Football

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