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Featured Image Credit: PA/RealMadrid.com
The past year will have affected all football clubs in terms of revenue, with no fans in the stands across Europe since March last year, and it's being shown in the lack of transfer activity in this window.
Even the biggest of clubs aren't immune to the problems and Real have announced some massive debts at their Annual General Meeting.
According to SPORT, Los Blancos revealed gross debt of €901 million, which isn't too far off Barcelona's €1.2 billion gross debt.
The Spanish champions have a net debt of €355 million and of that €114 million is attributed to the renovation of the Bernabeu, which has left them playing at the Estadio Alfredo Di Stefano at the moment.
Real do only have €203 million in short term debt, which is far less than their rivals, who currently owe €126 million to other clubs for other transfers alone, across 19 different clubs.
Zinedine Zidane wasn't able to boost his side's chances of retaining the league title with any transfers last summer, which certainly makes sense with the club's finances.
Instead Achraf Hakimi, Sergio Reguilon and Oscar Rodriguez were amongst the players sold, James Rodriguez was allowed to leave for nothing and Gareth Bale and Borja Mayoral were loaned out.
In January Luka Jovic and Martin Odegaard have also been allowed to leave the Bernabeu on short term deals, as the side save money on their wages.
It's no surprise, considering their financial positions, that Real and Barca are two of the sides behind the push for a European Super League, as they attempt to get parity with the rich English sides.
Liverpool and Manchester United have previously been revealed to be in talks about the possibility of a Super League, with former Barcelona president president Josep Bartomeu confirming the Nou Camp side were ready to join.
In an attempt to stop any such breakaway league, that would likely go alongside domestic competitions and be played instead of the Champions League, UEFA and FIFA confirmed any player playing in a Super League wouldn't be allowed to play in the World Cup.