Buy-out clauses obligatory in Spain
Ronaldo's buy-out clause set at US$1.4 billion
Spanish sports newspaper Marca today announced that Portuguese striker Cristiano Ronaldo is about to break another record in the history of soccer. According to the local paper, the buy-out clause of his contract with Spanish soccer club Real Madrid will be set at one billion euros (US$ 1.4 billion).
"This is an anti-sheikh number (sic)," Marca reported. "Florentino Perez (Real Madrid president) wants to avoid another team to be able to buy the player out during his six years of contract." A billion euros is equivalent to the total of transfer fees for the last 66 players Madrid bought. Buy-out clauses are obligatory in Spain.
Real Madrid will pay a 94 million euros (US$ 132 million) transfer fee to UK Manchester United for Ronaldo, the most expensive in the history of soccer. The Portuguese player will be paid 9 million euros yearly, after tax (US$ 12.7 million). The contract is expected to be signed by both parts (club and player) in the coming days.
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