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Renovation of “Bernabeu” stadium Raising the debt of Real Madrid

real madrid stadium Bernabeu

Real Madrid president Florentino Perez’s ambitions to restore the Santiago Bernabeu stadium have been hampered by the lack of sponsors of the Royal Club’s historic stadium.

The renovation would require between 400 and 500 million euros, as Perez failed to secure a sponsorship deal for the stadium, as did Juventus and Bayern Munich, so the renovation of the stadium could put Real Madrid under a huge debt. If the Board of Directors of the Club agrees to borrow the amount.

The management of Real Madrid issued a statement confirming that it sought the approval of the members of the Governing Council, in order to hold an extraordinary meeting of the General Assembly of the club, where Perez now hopes to obtain the approval of all shareholders in the Royal Club, before the borrowing of such a huge amount, States that the request for borrowing must be approved by more than two-thirds of the shareholders, the attendees of the Extraordinary Meeting.

The Real Madrid administration tried to find a new sponsor, after a deal failed to get one of the oil companies the right to name the Bernabeu stadium, compared to 400 million euros, The deal was to cover all the modernization and development of the stadium.

 

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