Real Madrid’s new Santiago Bernabeu moves closer with US$650m funding

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Real Madrid’s plans to give its iconic Santiago Bernabeu stadium a dramatic overhaul are moving closer after it was reported the Spanish soccer side has secured a loan for the redevelopment.

Funding for the project has reportedly been secured with JP Morgan and Bank of America Merrill Lynch offering the club a loan for a total of €575m (US$650m), paid off over 30 years. The two US banks will also be joined by Spanish banks Santander and CaixaBank.

The funding will be used to install a futuristic retractable roof and wrap the entire venue in a sweeping façade of titanium that features integrated lighting. It will also install a high-tech 360° halo video board, a dedicated e-sports venue, and 800 extra seats at the 81,044-capacity stadium.

Club president Florentino Perez says debt from the project will paid off due to an estimated €150m (US$170m) per year in extra revenue it will be able to generate from the redevelopment.

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As editor of four magazines at UKi Media & Events James brings over a decade of writing about, and obsessing over, technology and cars to Automotive Interiors World, Stadia, Winter Sports Technology International and Auditoria. Responsible for commissioning, writing and editing each issue he’s covered the best (and worst) from around the industry on a continual search to feature the latest innovation or talking point on the next cover.

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