Owen's GBP 17m transfer fee has Real laughing all the way to the banco

The Scotsman | September 3, 2005| | Copyright

JE JE je. That's how the Spanish render in print the sound of laughter, and the phrase was much in demand on Wednesday when the financial details of Michael Owen's transfer to Newcastle were made public. Real Madrid were cackling all the way to the banco, happily flabbergasted that the ailing Geordie club had stumped up a frankly otiose E25 million (variously rendered as GBP 16 or GBP 17 million in sterling, although if they used the airport exchanges I frequent it would be more like GBP 20 million).

This time last year, Real paid Liverpool E12 million for the player, and although a year's ...

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