Real Madrid hand their Champions League winning squad a watch worth £24,000 alongside a bonus of half a million EACH!

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Real Madrid's Champions League win was their tenth European title
The squad have been rewarded with money and gifts for 'La Decima'
Carlo Ancelotti's side have since gone on a 16 game winning streak

By Jack Bezants for MailOnline Follow @@JBezants

Published: 15:56 EST, 3 December 2014 | Updated: 04:39 EST, 4 December 2014

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Carlo Ancelotti's Real Madrid have enjoyed an astounding year, following up Champions League glory by winning sixteen straight games this season to set a new club record.

That victory in May, a 4-1 triumph against fierce rivals Atletico Madrid after extra-time, went down in folklore as 'La Decima' as it was their tenth European title.

The players were rewarded financially for the feat with a handsome sum of 500,000 euros (£392,000) each, but that is not where the generosity has stopped from the club, according to Marca.

The Panerai Radiomir watch is worth around £24,000 and has been given to Real Madrid's players

Sergio Ramos celebrates with the Champions League trophy after beating Atletico Madrid in the final

Cristiano Ronaldo poses after scoring for Real to secure their Champions League final win

Gareth Bale (right) scores a headed goal in the final against Atletico, played at the Estadio da Luz in Lisbon

The squad celebrate with coach Carlo Ancelotti (centre) after the victory in the European Cup final

Bale (right) poses alongside team-mate Luka Modric (left) in the celebrations after the game

Ronaldo freestyling for fun during Real Madrid training

Real have handed each player a watch to commemorate the achievement, the Panerai Radiomir GMT Oro Rosso.

The watch is worth around £24,000 and has a strap made out of alligator skin.

It is undoubtedly another extremely generous gesture from the club, although they must be slightly concerned at how they can surpass it if Ancelotti's side continue their relentless winning streak.