So Cristiano Ronaldo has left Manchester United in a world record £80 ($130) million move to Real Madrid. It is goodbye EPL (English Premier League) and hello Primeria La Liga (Spanish League).
So how much will the 24-year old Manchester United player be paid by his new employer – Real Madrid? According to press reports, Cristiano Ronaldo has signed a six-year contract with Real Madrid that will see him earning a cool £183,000 a week, or £9.5 million in his first year. For each subsequent year, Cristiano Ronaldo will see his salary increase by 25%, and if he stays to the end of the sixth year, he would be receiving £556,000 a week in the final year of his contract.
Add in his share of image rights, and Cristiano Ronaldo could well be worth more than £106 million over the full six-year of his contract with Real Madrid.
Real Madrid obviously wanted to ensure that Cristiano Ronaldo stay with them for the full term. So they put in a buy out clause that valued Cristiano Ronaldo at almost £170million – more than twice what they paid to Manchester United.
What would you do if you can earn so much money? Good for you if you can manage it well. But there are many examples of celebrities falling into debts.
Michael Jackson comes to mind. Whatever happened to his earnings? At his death, he reportedly was indebted to $400 million.
And what about the many big lottery winners? Many ended up losing all their winnings and now living in poverty.
Some who entrusted their money to professional money managers may well ended up having their wealth wiped out, like those who trusted Bernard Madoff. Even putting money in banks run the risk of bank failures.
In making the move from Manchester United to Real Madrid, there is a quantum leap in his personal wealth. What advice would you give to Cristiano Ronaldo?
Perhaps the best advice is not to pursue the love of money, nor the lusts of the world that money can buy, but simply to concentrate on his area of giftedness – namely enjoy playing soccer, or as some called it, football.
Earlier posts:
From Rags To Riches To ….
Bank Failures
Money Makes The World Go Round
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