[sanblaster]

Originally Posted by //\/\/

...they're part government-funded, so they'll probably just up taxes!

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I guess this explains it a bit better:

Real rich: Where Madrid's money comes from
* Clubs in Spain are free to negotiate separate deals rather than central contracts. Madrid signed a £700m seven-year deal with MediaPro in 2006, seeing them easily top £100m a year, double United's earnings.
* Their bids for top players are also aided by Spain's tax laws – foreign players pay tax at just 23 per cent for their first five years. In England the 50p tax means clubs have to pay more to match wages on offer in Spain.
* The club's status in Spain helps them maintain their place at the forefront of European football. All debts they hold are with local banks, rather than relying on American billionaires or Russian oil companies. These banks are pressured to allow Madrid certain unwritten privileges, such as low interest repayments on loans. Their stature and standing in the country means they are unaffected by issues that could affect smaller clubs.
* Real Madrid have finished top of the Deloitte Money League for four years. The Bernabeu enjoys the third-highest average attendance in Europe while overseas trips generate revenue through ticket and merchandise sales.

http://www.independent.co.uk/sport/f...d-1697184.html