Real Madrid Make Record $131 Million Transfer for Bale

Gareth Bale’s long rumored move from the Premier League’s Tottenham Hotspur to La Liga’s Real Madrid is now a reality. The 24 year old Welsh striker, who scored 26 goals last season for Tottenham across all competitions and named the 2011 and 2013 Professional Footballer Association Player of the Year honors, has been targeted all summer by the Spanish side. Real Madrid has announced that they have secured Bale’s services for six years. The transfer fee Real Madrid must pay Tottenham is rumored to be a record breaking £85 million ($131,707,500). The deal comes one day before the international transfer window closes. Bale is also rumored to receive £300,000 per week ($464,850). Bale released a statement on Tottenham’s official website following the team’s 1-0 loss to Arsenal on Sunday. In the statement Bale said,

I am not sure there is ever a good time to leave a club where I felt settled and was playing the best football of my career to date. I know many players talk of their desire to join the club of their boyhood dreams, but I can honestly say, this is my dream come true.

Prior to this deal, the highest transfer fee for a player was Real Madrid’s acquisition for Cristiano Ronaldo from Manchester United in 2009 for £80 million ($123,960,000). The highest transfer fees paid for a single player has increased dramatically since the 1997 deal which brought Brazil’s Ronaldo to Inter Milan for £19.5 million ($30,215,250), according to ESPNFC.com. Luis Figo’s transfer in 2000 from Barcelona to Real Madrid was worth £37 million ($57,331,500). One year later, Zinedine Zidane transferred from Juventus to Real Madrid for £53 million ($82,123,500). Since 2000, Real Madrid has been responsible for five of the highest six transfer fees in the world. Bale will be introduced to the media Monday.

 

Currency conversion performed 1 September 2013 via Google Finance.

Reporting on the business side of the world's game.