Santander Bank Set To Help Madrid Buy Ronaldo

It does sound like a movie but it is anything but fantasy as the rumors surrounding Cristiano Ronaldo’s departure to Real Madrid takes another new twist.

It has been reported that Banco Santander, the largest bank in the Euro region who are also the main corporate sponsors for the McLaren-Mercedes F1 team and the Copa Libertadores, have approved of Madrid’s application for a massive loan.

According to an informer, Jose Ramon de la Morena, who spoke to Cadena SER radio programme, ‘El Larguero’, the Santander-based group have already granted Los Blancos a whopping €70 million credit to assist them in signing Cristiano Ronaldo from Manchester United this coming June.

It does not mean, however, that that amount is the set price-tag for the 2008 FIFA World Player of the Year, but it is the maximum credit limit for Madrid, as the club cannot exceed 20 per cent of their budget expenses.

The ‘White House’ are expected to have enough in their own pockets to cover the rest of the transfer fee, which will more likely than hit close to the €100 million mark.

And according to Spanish sports daily, AS, United manager, Sir Alex Ferguson, will have to release the Portuguese this time around if a fee can be reached between the two clubs and if the player himself decides to leave.

Ronaldo had made Ferguson sign a written agreement during their meeting in Lisbon last August and it stipulates that the winger will be allowed to leave in June 2009 should the opportunity arise.

But the Madrid-based paper also believes that the Red Devils have included a confidentiality clause in the pact, whereby the agreement can be unilaterally broken if the details are leaked to the press and it harms the Old Trafford club.

Los Blancos’ current interim chief, Vicente Boluda, will hand all relevant information, from the credit concession from Santander to the written agreement with Ronaldo, to the candidate to be elected as Madrid’s next president.

KS Leong, Goal.com