A recent report has accused Real Madrid of failing to account for €122m out of their €135m in ‘other operating expenses’, suggesting that a future marketing agreement with private equity group Providence may have led to some misreporting of finances.

If this allegation prove to be true, Real Madrid would be at risk of breaching UEFA Financial Fair Play regulations.

Real Madrid have however denied such allegations of financial mismanagement levelled against them.

Sources from the club have spoken to both Marca and Cadena Cope to deny any wrongdoing. But the Los Blancos are yet to make an official announcement regarding this.

The sources state that the €122m expenses are ‘not unexplained’, although no further detail is provided.