REAL MADRID REGRETS MISSING ESTEVAO; CHELSEA WINS NOW
Real Madrid reportedly regrets not competing with Chelsea to sign Palmeiras winger Estevao. The 18-year-old Brazilian has seen his market value soar to €60m after a stellar start in London.
Madrid Rues Passing On Rising Chelsea Star Estevao
According to reports, Real Madrid is starting to feel some regret about not vying with Chelsea to sign Estevao from Palmeiras.
In May 2024, the Blues came to an agreement with Palmeiras regarding Estevao.
At the time of the transfer, Estevao was just 17 years old, meaning Chelsea had to wait a year before he could move to London. The deal was initially set at £29 million.
Considering the transfer fee for such a young prospect, one could argue that Chelsea took a gamble, but in retrospect, it has likely turned out to be one of their smarter purchases in recent times.
The management at Chelsea even believes that Estevao could emerge as one of the top ten players in the world within three years, as reported by ESPN Brasil.
Since joining in the summer, Estevao has broken multiple club records and established himself as a vital player for Enzo Maresca's squad.
Before his move to Chelsea, Estevao had already generated significant interest and was not exactly an unknown talent.
While considering Chelsea, the Brazil international reportedly attracted attention from several top clubs, including Real Madrid.
ESPN Brasil further states that Real Madrid now regrets not going after the winger, especially after witnessing Estevao's rapid progress at Chelsea.
Given that the Spanish club already boasts Rodrygo and Vinicius Jr., their two other Brazilian wide forwards, it's understandable why they might have seemed more favourable for Estevao at that point.
The young player's future is now in Chelsea's hands, as the 18-year-old has a contract with the club that extends through the summer of 2033.
According to Transfermarkt, Estevao's market value has already reached €60 million (£53 million) and shows no signs of slowing its growth.
EDER MILITAO INJURY CONFIRMED AFTER BRAZIL DUTY BLOW
Real Madrid's Eder Militao is set to miss two weeks with an adductor injury. The defender will likely be out for key away matches against Athletic Club, Girona, and Olympiakos.
Éder Militão's adductor muscle injury, likely out for 2-3 weeks
Xabi Alonso will have to rearrange his defence for the upcoming weeks after Real Madrid lost one of their top players to injury. Eder Militao's injury has been verified after he left Brazil's 1-1 draw with Tunisia due to pain.
Although Militao apparently felt uneasy in the first few minutes of the match, he persisted until Carlo Ancelotti took his place in the 57th minute. Real Madrid reported on Wednesday afternoon that tests have verified a possible adductor injury in the back of his leg.
Militao will miss about two weeks of activity, according to Diario AS, even if Los Blancos did not give him a rehabilitation period as is customary. This implies that rather than a muscular rupture, the injury is more likely to be a strain, which should make healing much easier.
After the international break, Los Blancos have a challenging schedule that includes four consecutive road games. The 27-year-old will most likely miss away games against Athletic Club, Girona, Olympiakos in the Champions League, and Elche. He most likely returns in time to play Celta Vigo at the Bernabeu on December 7 and then Manchester City the following week. Real Madrid will travel to Alaves and then play Sevilla at home to wrap off the season.
This season, Militao—who is typically paired with Dean Huijsen—has been Los Blancos' finest defender. He abandoned the Spain assignment due to recent discomfort, but he should be well enough to start this weekend against Elche. Raul Asencio appears to be Huijsen's most likely partner, as Antonio Rudiger is expected to return from action next week, albeit gradually. Although Alonso has not used David Alaba much this season, he is still an option.
FLORENTINO PEREZ'S MEGA DEAL: SELLING BERNABEU PROFITS STAKE FOR HUGE €360M
Real Madrid president Florentino Perez plans a major financial overhaul, creating a new commercial entity to sell a 10% stake. The move aims to raise €500m-€1bn for the club while protecting its member-owned model and managing Bernabeu renovation debt.
Florentino's Strategy: Selling Bernabeu’s Future Profit Stream For Club Growth - Credit: AFP via Getty Images
After obtaining €360 million from Bernabeu-related income, Florentino Perez has taken steps to reorganise Real Madrid's financial future and is getting ready to sell a 10% stake through a recently established commercial firm. The idea will "guard us as an institution," the president told club members, and it will enable Madrid to raise money without turning into a public limited sports company.
Perez needs to raise between €500 million and €1 billion.
El Periodico claims that Madrid president Perez has started one of the biggest corporate overhauls in the club's recent history by outlining plans to raise new capital by selling about 10% of a newly established business entity. The move comes after the club's previous agreement, which was generally described as Madrid's first "lever," in which they sold Sixth Street and Legends 20% of future Santiago Bernabeu profits for €360 million (£317 million/$417 million).
Perez gave Real Madrid's members a full explanation of the new plan, emphasising the necessity of updating the club's organisational structure while preserving the customary member-owned model. "Our club needs an organisational structure that protects us as an institution and also protects all of us as owners of Real Madrid," he spoke directly to the members. To do this, I certify that we will present to this Assembly a proposal for the club's corporate reorganisation that ensures our members are the real owners of our club and its financial resources, safeguards our future, and shields us from dangers.
These comments underscore the president's attempt to maintain the club's strongly safeguarded status as a non-SAD (Sociedad Anonima Deportiva, a specific type of public limited corporation related to sports) athletic organisation while seeking fresh investment. Perez has long admired Germany's 50+1 model, but Spanish laws present considerable hurdles to its adoption. Lacking a legal avenue to convert Real Madrid into a hybrid like Bayern Munich, the club is instead looking into a framework of subsidiaries that would allow for investment without compromising sporting governance.
Perez relies on consultants
Real Madrid's financial consultants, including Anas Laghrari, Key Capital Partners, and Clifford Chance, have reportedly advocated for a strategy similar to what was established with Real Madrid Estadio SL in 2021, which currently manages various stadium-related activities. With the creation of a crucial commercial entity that investors can engage with, which does not interfere with the club's governing bodies, Perez is now anticipated to replicate this approach.
This plan prevents Real Madrid from evolving into a public limited sports enterprise, which would reduce the members' enduring influence. Instead of directly selling the club, shareholders would acquire shares in a firm that manages commercial functions such as marketing rights, stadium operations, events, and sponsorships. The members would continue to fully own the team, academy, coaching staff, and athletic decisions.
In his internal assembly address, Perez reiterated his insistence on the club's member-driven identity. According to the source, the club needs a fresh round of cash in order to stabilise its financial trajectory, as the amount spent on the renovated Bernabeu has increased from the initial €575 million plan to €1.347 billion.
Madrid is forced to make constrained investments due to growing stadium debt.
With every development update, Madrid's financial condition has gotten more difficult. The stadium's outstanding loan debt was €1.132 billion as of June 30, 2025. The retractable pitch (€225 million), the war in Ukraine, inflation, and better concert acoustics have all added to the cost, which has now skyrocketed to €1.347 billion. The modernised Bernabeu has enormous short-term pressure despite its enormous commercial potential.
Additionally, this new approach more closely resembles Barcelona's "levers" for avoiding bankruptcy. Barca established organisations like the Barca Innovation Hub, Barca Studios, and Barca Licensing Merchandising. Perez will go a similar route, but with more robust protections. Any shares that are issued in the new business will be given to current club members immediately and without fee; they will serve more as membership rights than as exchangeable financial assets.
Importantly, Real Madrid is anticipated to retain complete majority ownership of the commercial business established under this arrangement, guaranteeing that members will continue to have the last say in decisions.
According to earlier reports, the club is also considering a partial demerger between its commercial and athletic operations, which may be a step toward a more formal hybrid governance arrangement. Minority shares in the commercial arm would be owned by investors, but the athletic division would continue unaltered, preserving the values Perez has promoted for more than 20 years.
In addition to raising money, this arrangement aims to shield Real Madrid against future market-driven, legal, or political weaknesses.
Legal verifications and a long-range investment plan
The extraordinary assembly, where socios will vote on Perez's reform proposal, is the next stage. The legal and tax structure is presently being prepared by advisors to guarantee adherence to Spanish sports law, which forbids profit distribution and mandates that all commercial gain be reinvested for sporting purposes.
Bernebeu will create the new subsidiary, specify the commercial assets it owns, and start talks with investors who have already indicated their willingness to contribute funds if the proposal is accepted. Instead of short-term financial corporations, the club should prioritise strategic partners with long-term interest in international sports endeavours.
As state-backed teams and international investor groups increasingly control the football industry's economic environment, Madrid is attempting to future-proof its financial model with this move.