tag:blogger.com,1999:blog-6517695.post-44765298259214687462009-06-11T07:59:00.003-04:002009-06-11T11:20:19.215-04:00The BBC reports that <a href="http://news.bbc.co.uk/sport2/hi/football/teams/m/man_utd/8094720.stm">Manchester United has accepted an offer of £80 m</a> ($131m US) from Real Madrid for the services of Ronaldo. This is on the heels of Kaka moving to Madrid from AC Milan for a reported £56m earlier this week. The combined annual wage bill of Kaka and Ronaldo will top £25m as well. The record spending seems incongruous to me, with the Spanish economy in shambles (the <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=acoaFKLzQsC8&refer=home">unemployment rate is over 17%</a>, twice the EU average) and one major Spanish club, <a href="http://thesportseconomist.com/archive/2009_02_01__arch_file.htm">Valencia on the verge of bankruptcy</a>. Regardless, Next season's clashes with Barcelona in El Clasico should be interesting.<br /><br /><span style="font-weight:bold;">Update</span>: CNN's headline to its report is "<a href="http://www.cnn.com/2009/SPORT/football/06/11/ronaldo.real.madrid.finances/">Real Madrid defy economic gloom to buy success</a>." There is interesting discussion and speculation on whether they'll receive an immediate return on their investment.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/6517695-4476529825921468746?l=thesportseconomist.com%2Findex.html' alt='' /></div>Skip Sauernoreply@blogger.com