Club director Emilio Butragueno confirmed Fifa had asked the
Spanish Federation for documents relating to transfers over the last
five years.

Butragueno said the club was "absolutely calm" about its behaviour.

Fifa handed Barcelona a transfer ban until 2016

after they breached regulations when signing 10 players under the age of 18 in 2013.

In a statement, Real Madrid said the majority of the 51
players that world football's governing body had asked for information
on were exempt from regulations for various reasons.

Fifa rules state

that international transfers are only permitted for players who are
over the age of 18 - unless the player in question meets one of three
qualifying criteria.

Under-18s can move to a club in a different country if:

their parents move there for non-footballing reasons;
if they are from another nation within the European Union or European Economic Area and aged between 16 and 18;
or if they live within 100km of the club.

Real claim 10 of the 51 players were Spanish nationals,
while 23 foreign players had already been registered with a Spanish
club.

On Thursday, Real completed the £2.3m signing of 16-year-old Norway midfielder Martin Odegaard from Stromgodset.

Barcelona are not allowed to sign any players in 2015 after their

appeal against their transfer ban was dismissed

in December.

source:
http://www.bbc.com/sport/0/football/30997809

OMG!

Don't worry. Real Madrid is an honorable club, nothing will happen to them :)

Perez seems to be taking action about this. He has been going around and talking to the clubs they've made these deals with to check the paperwork. If the paperwork is correct, then Perez and Real shouldn't be in any trouble. If the paperwork is insufficient, then FIFA will most likely attempt to ban us. We will then most likely follow Barcelona's footsteps and appeal to the CAS and see what happens then.

It's not like we need 50% of the players we sign anyways.... a 14 month ban like Barcelona won't affect us.

I can't imagine Perez without signing anyone in 14 months lol. But it may be fun to see Barcelona and Real banned from transfers.

It's just another big political game one after another... The thing is any club with a youth system would be guilty. So before you laugh at any ban, think carefully.

I honestly would like a ban. But AFTER the 2015 summer transfer window, just a window to strengthen up the squad, and then they can ban us for 2 years if they like, I'm happy with the squad as it is. No need for any unnecessary player being bought

if i was real madrid i would love a ban. keep the current players to win some great stuff.

If Florentino actually did something sneaky with some of those transfers. I'd try to buy this transfer window before a ban would be placed.