Champions Madrid make first signing

A day after they finished a record breaking season with a 5-2 win over Levante, Real Madrid made their first signing official. Real have paid close to 10M Euros for the signature of highly rated Argentine Center Back Ezequiel Garay from Racing Santander.

The former Newell's Old Boys defender was valued at 18M which put off Barcelona. Real have worked out a Business deal which will see a cash down payment of 10M to Racing right away, the player will remain on loan with Racing as they prepare to play UEFA Cup next season and will be a permanent move to Madrid next year.

Real have done smart business here by paying for the already highly rated defender who could have cost them double the money next season and also a year more with Racing will give Garay the experience of playing in a European tournament and Madrid will also get a year more out of Cannavaro before the Italians likely return to home club Napoli.


It was not just Racing who got a sweet deal, Garay was signed from Newell's Old Boys by Racing Santander in 2005. The then 18 year old cost Racing 2 M but Newell had smartly put a clause in the contract which would mean that in an event of future sale they would receive 15% of the transfer fee. In this deal the Argentina club could very well end up with over 1.5M which could be a real relief in a financial crisis struck year.