Real Madrid donates 20% of the benefits of the new Bernabéu. The white club, chaired by Florentino Pérez, has reached a marketing agreement for the new Santiago Bernabéu with the North American company Legends, owned by the Sixth Street fund and specialized in the operation of sports venues.
With this agreement, the Real Madrid will cede 20% of the profits from the business of the new Bernabéu for 25 years, in exchange for 400 million euros per year, as it has progressed VozPópuli.
The club merengue there was iEarned 150 million euros a year for the stadium before the pandemic and the company has promised a figure that will multiply the previous data with events and activities such as concerts, shops and restaurants.
The agreement with the North American company will be for 25 years. The company is owned by the Sixth Street venture capital fund, which owns 20% of the San Antonio Sports, an NBA club. Legends was created by a business agreement between the New York Yankees of Major League Baseball (MLB) and the Dallas Cowboys of the National Football League (NFL). Through this operation, Legends will inject about 150 million euros expandable up to 400 million.
According to the media Two underground parking lots are added to the Bernabéu reform project under Paseo de la Castellana and Padre Damián with more than 1,500 seats. Real Madrid would pay for the work, between 65 million euros and 80 million euros, as debt. The car parks will allow the club and its financiers access to some 270 million in income during the 30 years of a concession, pending approval by the Madrid City Council.
For the remodeling of the entire infrastructure, andhe club has borrowed around one billion euros including interest that will be repaid over a period of between 25 and 30 years. Although the premiere is scheduled for the middle or end of 2022, the surrounding works such as the parking lot could be finished between 2024 and 2025.
