REAL Madrid's summer of extravagance has resurfaced an age-old question: Has the La Liga wrested the seat of power away from the English Premier League?
At first glance, it sure looks that way.
Cristiano Ronaldo, Kaka, Xabi Alonso and Zlatan Ibrahimovic will be trading their Italian and English clubs for Spanish ones this season.
And with memories of Barcelona's dismantling of Manchester United in May's Champions League final still fresh in the mind, it is not inconceivable that Spanish may soon be the first language for football fans the world over.
Or so it might seem.
Spain's dominance on the cash and continental front can be attributed to just two clubs - one with a blank chequebook and the other with extraordinary footballing artistry.
In this case, two swallows do not make a Spanish summer.
And the Spaniards still have some way to go, before they can catch up with their English neighbours in the popularity and money stakes.
Thanks to years of full-scale television bombardment, fans in many parts of the world have emotional ties that bind them to teams like Manchester United and Liverpool.
Hurl a stone in any direction at Orchard Road, for instance, and you are likely to hit someone who's a fan of an English club.
I, for one, grew up watching now-defunct TV programmes like Big League Soccer and EPL highlights on World of Sport. For the life of me, I can't remember watching a single Spanish league match until I was well into my teens.
Maybe it's because the football product churned out from British shores is still unrivalled in terms of excitement, if not sheer passion.
The Spaniards have one fixture all season that thrills - the El Classico. In the EPL, United vs Liverpool gets our blood pumping as much as a showdown between Chelsea and Arsenal.
Simply put, there are more teams in the EPL to watch, to love, and to admire.
Money-wise, Real Madrid's spending spree has skewed financial reality.
In Deloitte's latest football report this year, the Premier League still outstrips its rivals in terms of wealth.
In the 2005-06 season, it had an average revenue of US$700m. The La Liga was a distant fourth with US$275m.
Newer figures would likely show that the gap has narrowed, and will continue to do so, given the talent drain from England to Spain that will draw more fans who crave Ronaldo's magic on a weekly basis.
But as most fans will tell you, it is the club they support, not the player.
And if that holds true, fan loyalty is still the biggest asset that the EPL commands - and that is something the Spaniards have yet to emulate, at least in this part of the world.
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