Florentino Perez and his youngest child, the new Santiago Bernabéu, are the perfect duo. Set for relentless success, the Real Madrid president has plans to profit from the state-of-the-art stadium every day.
Record annual revenues from the facility
The new Santiago Bernabéu has one goal: to generate as much money as possible from the investment. The facility is expected to bring in up to around €400 million in revenue annually. This would be more than twice as much as before. In order to maximise the potential of the new Bernabéu, Real Madrid has signed a deal with Legends and Sixth Street in 2022. In exchange for €360 million, Los Blancos handed over the operation of the stadium to them for twenty years.
Real Madrid will receive seventy percent of the revenue from their stadium, according to the terms of the agreement. The remaining amount is paid to the companies that will be responsible for organising events at the venue. Florentino is aware that in order for the club to continue to compete in Europe with Premier League clubs in particular, it needs to earn substantial money for itself. The new stadium will be a very important piece in the overall picture. The club estimates that revenues from the use of the stadium will increase by around €150 million per year.
The first event at the new stadium has been announced by American singer Taylor Swift, who has unveiled 'The Eras Tour'. It includes almost fifty performances around the world. The schedule features a performance in Madrid at Santiago Bernabéu on May 30, 2024. This is Swift's only concert in Spain, and there are many indications that the new Bernabéu, with its capabilities and, above all, its capacity, will take this type of event away from other venues in Madrid and Barcelona.
Increased work ahead of the Bernabéu's grand opening
Workers at Santiago Bernabéu have returned to post-season work as announced. First of all, the retractable pitch system was tested. After the removal of the existing turf, six platforms were retracted underground to accommodate the grass. This allowed new cranes to be deployed on the exposed ground, which are being used while the facility is being finished internally - their main purpose is to the installation of a new 360-degree display under the facility's roof.
The official opening of the redeveloped venue with a special concert will take place in December 2023 during the LaLiga winter break. The redevelopment of Santiago Bernabéu cost, according to early calculations, €575 million, of which €300 million has been earmarked for construction work, €100 million for the technological equipment of the venue and €175 million for improvements to the infrastructure that will remain of the old arena. Florentino Pérez has asked financial institutions to increase the loan by $225 million to implement the retractable turf project, making the instalment rise from €29.5 million to around €37-38 million a year.