Real Madrid Spends 225 Million Euros Over Budget on the Bernabeu
Real Madrid‘s management spend more money than planned to renovate its Santiago Bernabeu stadium.
The Royal has not played since March 2020 at the “Santiago Bernabeu”, as the Whites’ administration took advantage of the cessation of sports activity due to the Corona pandemic, and proceeded to develop the stadium, with the aim of expanding it by 40%.
And a report published in the French newspaper “L’Equipe” expected that the renovation of the stadium could cost Real Madrid 800 million euros, after it had already spent 575 million euros, stressing that the royal would increase the size of the financing agreement with JPMorgan and Bank of America, by 225 million euros, to complete Stadium renovation.
The newspaper pointed out that this project is expected to boost Real Madrid‘s revenues from the operations of the Bernabeu stadium alone to 400 million euros annually, instead of 150 million euros currently.
The newspaper concluded its report by saying that the club’s general assembly must vote, to approve or not approve the new project.
Real Madrid's management spend more money than planned to renovate its Santiago Bernabeu stadium - /10
Real Madrid Spends 225 Million Euros Over Budget on the Bernabeu.