Calderon hails Real Madrid's big summer recruiting

Real Madrid president Ramon Calderon insists they've busted open the summer transfer market - and on a budget.

Reviewing their close-season deals, Calderon said: "We have made the Italian signings for amounts far below the market rate."

"In the case of Van Nistelrooy, Manchester United always used the argument that Bayern Munich had made an offer. I doubted it, but soon their leaders confirmed they were willing to sell and Pedja Mijatovic has done magnificent work in the signing of Van Nistelrooy."

"And with the signing of Diarra, what can I say? Essien, last year, cost £8 million more."

"Finally, the one of Reyes has happened in a very intelligent way because Baptista is an excellent player. It was an opportunity to add something to us which we did not have and to give the Brazilian the opportunity to play."

"If he had stayed this year he would not have played and that would have been very bad for him."

"An honour degree for Mijatovic."