Cristiano Ronaldo Used As Collateral

This was interesting enough to merit its own post. 

The Spanish banking group Bankia  has apparently posted Ronaldo’s registration (as well as Kaka’s) as collateral to secure loans from the European Central Bank:

“Could we see a situation in which the ECB seizes one of the players?“ wonders the Munich daily. “In theory, it is possible. Bankia would first have to become insolvent. Thereafter, Real would have to default on its loans, which are secured by advertising and television revenues.

Süddeutsche Zeitung (Original in German)

Given the recent troubles in the Eurozone caused by Greek instability and hints of contagion in other Euro members like Italy, it is unsurprising that a policy of measured lending maybe taking a backseat to a policy of “Take the money now!”.

If collateralizing player registrations becomes a trend maybe we will see the ECB field a Winning XI from the PIIGS?

Cristiano Ronaldo Used As Collateral