Real Madrid will not make any signings this month despite the fact that they could be subject to a transfer ban in the near future, according to president Florentino Perez.
The Bernabeu giants were hit with a FIFA sanction earlier this month and could be prohibited from signing new players for two transfer windows if they do not produce a successful appeal.
Speaking to France Football, he said: “The FIFA sanction is hurtful. It is a very serious matter to smear Real Madrid’s reputation in this way.
“We are convinced that it is all a mistake – it is ridiculous to think that Real Madrid will be punished for a matter concerning the protection of minors when the children have always been a priority for us.”