His election into the hot seat as Real Madrid’s President in 2000, afforded Florentino Perez the enviable opportunity in transforming the European football transfer business to a more lucrative venture. His emergence into the spotlight of football management (especially in a club believed to be the world’s wealthiest in terms of financial acquisition) opened a new window as regards players’ signed on fees which has since reached the million dollars mark (or pounds as the case may be) thanks to Florentino’s drastic effort in turning the Madrid outfit to world beaters, by signing players with high pedigree during his first term as President of the club. The first world’s most expensive player ever to join the mainstream of the Spanish side to the tune of 73.5 million euros, was the great French player and former world footballer of the year, Zinedine Zidane. 3 more high profile players were later contracted to join the fray of the team. One time Brazilian striker Ronaldo (the real Ronaldo), David Beckham and Luis Figo, were all part of the maiden Galacticos conceived by Perez. His re-election as President in 2004, meant more top players joining the team, as was the case with the signing of Michael Owen from Liverpool in 2004, Robinho in 2005 and some other notable players of repute.

One of Florentino’s consistent promises during his campaign for the post he once held, was the need to once again lure the most expensive and current best players to the club. Determined not to eat his words at the end of the day, negotiations were already in progress for the services of some of these players, even before he (Perez) got elected as President of the club for the third time. Therefore, it was no surprise when news filtered through the air-waves on Florentino’s capture of the world’s most prized players in club football. The only snag being the outrageous sign-on fees on which these players were bought. Prompting football regulating bodies such as FIFA and UEFA to question the rational behind the massive excessive spending of some of the big European club sides during the just concluded summer transfer window, especially against the backdrop of the global financial crisis being experienced at the moment. If Kaka’s 58 million pounds’ move to the Bernabeu was something the critics would described as a little ‘over the bar line,’ then Cristiano Ronaldo’s staggering 80 million pounds switch to the same club, could as well be painted as ‘criminal!’ Which ever way one may look at it, the man at the centre has again proved his mettle in going for only the best at what ever cost.

Aside the enormous success in making sure the best players are continually attracted to its terrain, Perez, during his first and second tenure as President, was able to create a tremendous capital base which has so far sustained the financial strength of the club. Little wonder the former Spanish champions continued to enjoy the status as the world richest club for four consecutive years (a position now enjoyed by English champions Manchester United). A statistic published by ESPN Soccernet February 13 2009, showed that Real Madrid had an estimated profit of 289.6 million pounds from the 2007/2008 season.

As the new LALIGA season finally took off on the 30th of August 2009, it promises to be a season of endless excitement. Expectedly, all eyes should obviously be fixed on Florentino Perez and his newly assembled Galacticos as they take giant strides in putting an end to the dominance of arch rival, Barcelona. But the big question is; Would Real Madrid be able to cope with the rising pressure to perform? After spending so much to turn the club’s fortune around, the club’s teeming fanatical supporters are eagerly looking forward to a major silverware to wipe out the difficult experience of last season which left the club barren in terms of trophies. Else, the astounding $365m spent by Florentino in turning the club’s fortune around, may as well be in vain after all.