According to TV Sports Markets, the channel's budget has been reduced to Eur7 million per year, with more cuts to come in the future. The original budget for the channel was about Eur20 million per year. The club plans to make up to 40 members of staff redundant, including technicians, producers and writers.
Florentino Perez, Real Madrid's president, is understood to be sceptical about the value of projecting the club's image through its own media outlets. In 2009, Perez closed Real Madrid's radio station, a year after the previous president Ramon Calderon opened it.
Perez is also expected to reduce the budget for Real Madrid's basketball team from Eur28 million this year to Eur25 million next year and Eur20 million in 2013. For all the latest TV sports rights news visit www.tvsportsmarkets.com/news.
