Real Madrid Strike Super Deal For Bernabeu Stadium
Spanish Liga champions Real Madrid have announced a deal with US investment firm Sixth Street, worth 360 million Euros for a 30 percent stake in Bernabeu Stadium operations.
Real have already taken their 35th Liga championship title this season and are favourites to win their Champions League final clash with Liverpool on the 28th May in Paris.
The deal with the US investment firm that has some $60 billion under management, will mean that the club will clear much of its debt and give them additional firepower to purchase new players including P.S.G´s top striker, Mbappé.
The deal also includes Legends, an American sports event management and hospitality company that is majority owned by Sixth Street and will last for 20 years through a joint venture that will run all non-football stadium income.
The iconic Bernabeu Stadium is completing a 1 billion Euro remodelling with an expected opening of later this year to coincide with the club 120th anniversary of its founding
In a press statement released at the signing of the agreement yesterday 19th May the club´s president Florentino Pérez said the deal has the “objective of elevating the Santiago Bernabéu Stadium as a unique venue and a worldwide benchmark for leisure and entertainment”.
“The transformation of the Santiago Bernabéu stadium will be a turning point in the history of Real Madrid. This alliance with Sixth Street and Legends, world leaders in their respective disciplines, will be fundamental in providing unique experiences in a stadium where multiple events can be hosted throughout the year. This agreement strengthens our goal of continuing to significantly increase the stadium’s revenues from both sporting and other types of events”.
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