Spanish LaLiga football club Real Madrid has taken further steps in its redevelopment project for the Estadio Santiago Bernabéu by agreeing a partnership with US agency Legends, according to Marca.
The Madrid-based sports daily said Real has signed an advisory agreement with Legends as it seeks ways to maximise revenue from the new-look stadium.
Legends has previously worked with LaLiga rivals Barcelona and Atletico Madrid, and Real is said to be targeting the optimum usage of the revamped Bernabéu’s commercial zone, the new museum and other technological features.
In September, Real Madrid members gave the green light to a loan scheme for the redevelopment of the Bernabéu, as president Florentino Pérez revealed further details of the plan to create the world’s finest stadium.
Real’s representative members gave their approval to the board of directors to take on debts as part of the remodelling costs of the Santiago Bernabéu. Perez said that the club’s current financial strength meant that it is an ideal time to take out the €525m (£467.7m/$598.7m) loan, as he detailed how the cost of the project has increased. Real Madrid was last summer granted full approval to redevelop the 81,000-seat stadium, which at the time was expected to cost approximately €400m.
Real’s president said that work on the project is expected to begin at the end of the current 2018-19 season, with a construction tender to be launched and a winning contractor named at the beginning of 2019. The work is projected to have a three-and-a-half-year timeline.
Perez also stated that the new-look stadium will generate an extra €150m per season in revenue, as he detailed plans to create a venue with the best comfort levels, utilising the latest modern technology.
Image: Real Madrid