Amendment to the Bernabéu renewal project.. Real Madrid gets 225 million euros and expects record income
Informed sources said that the Spanish football giant, Real Madrid, will increase the size of the financing agreement with “JPMorgan” and “Bank of America” by 225 million euros to complete the renovation of the iconic Santiago Bernabeu stadium.
The value of the initial agreement in 2019 amounted to about 575 million euros and allowed the club to begin transforming the site from a football-only stadium into an event center 365 days a year.
The club later decided to expand the renovation work to change the pitch of the stadium with the latest science to become multi-use so that it can be used in various activities, which generates additional revenue.
A source in the club said that this project is expected to boost Real Madrid’s revenues from operating the Bernabeu stadium alone to 400 million euros annually from 150 million euros currently.