Santiago Bernabeu (foto: //)
Real Madrid's president, Florentino Perez, hails from the construction industry.
Real Madrid's leadership is set to request approval for another substantial loan to complete the renovation of the Santiago Bernabeu, reports Spanish newspaper Marca.
This will be the third such loan: the first amounted to €575 million, which was used to initiate the stadium's overhaul. The second, amounting to €225 million, was allocated for a new grass maintenance system, allowing the stadium to serve other purposes.
The third sought-after loan is for €325 million, intended for the final phases of work. In total, the iconic stadium's renovation will exceed €1.1 billion.
Real Madrid has guaranteed revenues of €360 million for the stadium construction, thanks to 20-year contracts signed with companies Sixth Street and Legends. It's worth noting that the president of Real Madrid, Florentino Perez, has a background in the construction sector.