The Economist

The drain to Spain

IT IS kick-off time for European soccer. As national league seasons open across a continent that still manages to attract the world’s top talent, eyes are turning to the so-called galácticos– the superstars joining Spain’s La Liga. Spain is posting some of Europe’s worst GDP numbers, yet summer spending on soccer players has been...
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The drain to Spain

The drain to Spain

Mr Pérez turned Real Madrid into a global brand earlier this decade. He did it by buying the world’s most popular stars regardless (some said) of talent. Financially, it worked. They sold merchandise. They brought lucrative advertising and television contracts. The emblem was David Beckham, of England. Real Madrid sold staggering quantities of team...
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