Source:
REUTERS/Vincent West
[Saba
Sports News] According to Spanish media reports, Real Madrid has spent €1.76
billion in renovating the Santiago Bernabeu Stadium, and this figure may
increase further. Real Madrid’s mid-term financial report for the 2023-24
season states that the current cost of renovating the stadium stands at €1.76
billion. This amount includes the actual project cost of €1.17 billion and the
interest on three loans that Real Madrid has taken for this project. The
repayment period for these loans extends until 2053. Initially, Real Madrid
planned to secure two loans, but due to project overruns and escalating
material costs, they applied for a third loan of €370 million in October of the
previous year. The interest rates for this loan are still pending, which means
the total cost of the Bernabeu renovation is likely to increase further. During
a recent Real Madrid membership meeting, Florentino Perez, the club’s
president, assured that the annual loan repayments would be less than half of
“the annual profit earned after the completion of our projects.”