Spain: Santiago Bernabeu redevelopment underway with Real at record revenues

source:; author: Maciek Ściłba

Spain: Santiago Bernabeu redevelopment underway with Real at record revenues Florentino Perez is a man who knows exactly how to make big money. Real Madrid president is not only responsible for the club's greatest sporting successes, but also for Los Blancos' record financial performance. The 2022/2023 season has confirmed this.


What are Real Madrid's revenues?

A month ago, we reported that the modernised Santiago Bernabeu would be a real golden goose. The facility is expected to generate up to €400 million income annually, which should make the investment pay off really quickly. The renovation is already slowly entering the final stages, with elements such as seats and displays being installed. The official inauguration and opening of all seats is expected to take place in December 2023.

However, Real can speak of huge financial success. Los Blancos have not been able to make full use of their home since 2020 – firstly the reason was the coronavirus pandemic, then the ongoing modernisation works that forced parts of the stadium to be taken out of use. Although dozens of rows of Santiago Bernabeu seats had to be covered with sheets during the 2022/2023 season as well – automatically making many sections unusable – the club still achieved record revenues.

Santaigo Bernabeu© Nuevo Estadio Bernabeu

Real Madrid will earn even more in future years

Figures show that the last league campaign generated revenues of as much as €843 million. The previous record-breaking 2018/2019 season generated revenues of €757 million. Profit for last season was €11.8 million - slightly less than for the 2021/2022 season when Real Madrid won the Champions League and LaLiga competition (€13 million). It is also worth mentioning that, leaving aside the sector of incomes related to prizes and bonuses for participation in all competitions, every else grew year-on-year.

It is almost guaranteed that this year's revenue record should be broken again in 2024, even if Los Blancos do not win any competitions but finish top of them. It is worth mentioning that the club's governing body has concluded an agreement with the Legends agency and the US investment firm Sixth Street in 2022. It concerns the operation of the Santiago Bernabeu for the next 20 years. The companies, whose main aim is to generate as much commercial profit as possible for the facility, have paid €360 million for the rights. The current upgrade of Madrid's legendary venue is expected to cost more than €575 million.

Santiago Bernabeu is still in the redevelopment phase. How is the work progressing? You can find out in this video!