Perez: Real spending critics ignorant

MADRID - Real Madrid president Florentino Perez has said those people who have called the club's transfer market spending spree immoral are ignorant and misguided.

Asked in an interview with Spanish newspaper Publico if he was annoyed when his record 80 million pounds bid for Cristiano Ronaldo was labelled immoral, Perez told the paper: "No. I simply believe that it is a result of ignorance.

"This is a corporate project and some investments (in players) and those who see it differently are misguided. But time will prove us right and that's why I am relaxed," he added.

Manchester United accepted Real's world record bid for Ronaldo last week after the Primera Liga club had signed Brazil forward Kaka for about 68 million euro.