Florentino Perez has denied the suggestion that Bankia helped fund Gareth Bale's move, as he defends Real Madrid from allegations of illegal state aid.
Attention has refocused on Madrid’s funding of their €100m purchase of the Welshman this summer from Tottenham.
This is amid the Spanish media’s focus on the government declining comment on continued questions from Dutch and European politicians on whether Bankia helped co-fund the move.
“We have not talked with any financial institution,” club President Perez has countered to reporters today.
“I have said this ad nauseam, but football is based on what is happening and what is not. The signing of Gareth Bale was not paid for by Bankia, we have done so with our own resources.
“Now it is being made to look like we did not sign Bale and that is a lie. Real Madrid have paid with significant resources and it is a bit annoying to have to be talking about this.”
Los Blancos are one of four La Liga sides under scrutiny for their tax status being different to the other clubs who are registered as corporations, whilst the club’s land exchange deals with the Madrid council are also being looked at.
“The 1990 Act has caused many inconveniences for the four clubs that are not corporations. At Madrid it has cost us €13m due to deductions in reinvestments.
“There is a campaign against Spanish football due to the successes that we have enjoyed.”