LOADING...
Madridista News App Download Now
OPEN
logo
The new Bernabeu to help generate over €1 billion profit for Real Madrid
Football
06-Sep-2022
Source: AS
Español

The new Santiago Bernabéu, barring no last minute hiccups, is expected to be fully operational for the 2023-24 season with the war in Ukraine having impacted on certain supply chain issues relating to materials. Real Madrid hope that the new stadium will be instrumental in seeing the club generate more than one billion euro in revenue and this alone would mark a significant uplift to the club’s finances after their last (non covid impacted financial year) which saw the club generate €822,000.

The club has enlisted Sixth Street and Legends to assist in achieving this goal. Legends is a company that specializes in running sizable sports venues, and the first is an investment fund that owns 51% of the latter. Real Madrid received 360 million euros after reaching an agreement with Sixth Street, and in return, the club will give Sixth Street 30% of the revenue the new Santiago Bernabéu will generate over the course of the following 20 years as a result of Legends' work.

Florentino Perez, president of Real Madrid, declared after reaching an agreement with Sixth Street that "the transformation of the Santiago Bernabéu Stadium will be a turning point in the history of Real Madrid. This partnership with Sixth Street and Legends, two global leaders in their fields, will be essential to delivering distinctive experiences in a venue where various events can be held throughout the year."

According to Alan Waxman, co-founder and CEO of Sixth Street, "Real Madrid's Santiago Bernabéu is hallowed ground in the world of football, and we are honored to be joining this partnership to invest in the innovative, long-term strategic vision that has guided the Club's consistent success over its storied history."

On their corporate website, Legends now lists Real Madrid as one of their official partners. The company also manages stadiums like the So-Fi stadium in Los Angeles, the Tottenham Hotspur Stadium, and Allegiant Stadium in Las Vegas. They also collaborate with a variety of sports institutions as baseball’s NY Yankees, NFL team Dallas Cowboys, UFC and England Rugby.

The new Santiago Bernabe is intended to be a special venue with events occurring every day of the year, according to Florentino Pérez (concerts, basketball games, NFL games...). Moreover, it is believed that the triple alliance with Legends and Sixth Street should serve as the best catalyst for achieving this.

Top