Madrid: 360-million deal crowns Real's season
source: StadiumDB.com; author: Robert Saganowski
It's been a great time for Real Madrid supporters lately. Firstly, their team won the double crown, then Antonio Rudiger's move to the Spanish capital was finalised and, in the meantime, the club signed a lucrative deal to make the 'Los Blancos' facility multi-purpose.
May 2022 will forever go down in the club's recent history. The middle of the month saw the end of the La Liga season, in which it was Karim Benzema & Co. who proved to be the best, overtaking arch-rival FC Barcelona by as many as 13 points. Eight days later, at Stade de France in Saint-Denis, Carlo Ancelotti's men lifted the Champions Cup for the 14th time in the club's history.
© Elise Robaglia / Potion Médiatique
Just when it seemed that the failure of talks with Kylian Mbappe would break the hearts of the Madrid officials, they have responded with double force... literally! Antonio Rudiger's move from Chelsea FC to Real is now sealed, and it is only a matter of days before Aurelien Tchouameni's transfer from AS Monaco is confirmed. The icing on the cake is a new contract worth up to €360 million with Sixth Street and Legends, which will allow new business to develop at Estadio Santiago Bernabeu.
The deal was ratified at the club's board meeting.
The transformation of Estadio Santiago Bernabeu will be a turning point in the history of Real Madrid - said an excited president Florentino Perez.
This alliance will be fundamental in providing unique experiences in a stadium where multiple events can be hosted throughout the year - added the Spaniard.
© Shin Kusano (cc: by-nc-nd)
"The Royals" have confirmed that the deal with Sixth Street will run for 20 years, while the contract with Legends has no specific duration. The former is a San Francisco-based investment group with over $60 billion in assets under management, while the latter is a stadium operations corporation from New York whose majority owner is... Sixth Street.
Thanks to this alliance, the Californians gain the right to participate in the activities of some new ventures at the facility. Legends is expected to bring its experience and knowledge from operating other top stadiums and leisure centres in the world to optimise the management of Santiago Bernabeu.
The venue of the current Spanish champion has been consistently rebuilt since 2019. At the end of 2021, the club took out an additional loan due to the rising cost of the redevelopment (€800 million compared to the original €575 million). Thanks to a lucrative deal with Sixth Street and Legends, this gap can be closed and the club itself may even come out a small profit over the initial assumptions.
Currently, the greatest interest is in the construction of the retractable roof, which, interestingly, is mounted on the pitch and then lifted into its final position. The geometry of the canopy is not accidental either. The curved masses are able to reflect light in a variable way, and their marked lines express energy. The ceremonial opening of the redeveloped stadium is expected to take place in autumn 2022, although full completion is expected in mid-2023.
Check out also the video on our YouTube channel in which we presented the progress on the construction site in Madrid (as of April 2022):