Meet the Biggest Spender in Sports

Meet the Biggest Spender in Sports

Florentino Pérez, president of Real Madrid soccer club, will accept nothing short of the biggest, brashest and best soccer club that money can buy.

And therein lies the problem for this self-made billionaire.
While Real Madrid fans are enjoying the Champions League with new hope and a bevy of top-dollar superstars, critics are accusing Mr. Pérez of ruining the sport. European soccer’s governing body, UEFA, ratified a plan this month to stop clubs from buying “success on credit” and amassing huge debts. An even harsher accusation—of “financial doping”—comes from Arsenal manager Arsène Wenger, whom Real Madrid also tried to woo. Even many Spaniards think it’s obscene to spend so much money on players at a time when the country’s economy is deep in recession, with nearly 1 in 5 people unemployed.

wsj.com
9/22/9