Source: REUTERS/Peter Cziborra
[Saba Sports News] According to the latest reports from Spanish media, the Real Madrid franchise bar at the new Bernabeu stadium is facing financial difficulties, and the lessee’s breach of contract has resulted in project delays and unpaid construction costs, preventing it from opening. The company reportedly leveraged Real Madrid’s reputation to gain suppliers’ trust but has accrued debts of about €4 million to various contractors, leading to its inability to obtain an operating permit. Two outsourced companies have failed to pay and still owe money. On a positive note, several strong companies have expressed interest in taking over the project. The new Bernabeu bar was initially expected to generate considerable revenue for Real Madrid. The club hoped to create millions of euros in annual income from the 200 VIP seats. The bar was intended to function as a VIP lounge on match days and as a restaurant, disco, or event space for other companies on non-match days, increasing non-football revenue. However, due to the bar’s prolonged inability to open, it has not positively impacted Real Madrid’s revenue, and legal disputes and construction delays may result in some economic losses for the club.