Real Madrid CF: a €525m loan to finance the renovation of the Santiago Bernabéu

The socios of Real Madrid CF (LaLiga Santander) have validated the project for the management of the club to contract a loan of €525m to finance the renovation plan of the Santiago Bernabéu (80,000 capacity), at the Spanish club's extraordinary general assembly, according to Real Madrid on 23/09/2018.

The cost of the stadium renovation work - which will not increase its capacity - will be distributed as follows:
• €300m for structural work including the installation of a roof and the complete renovation of the facade
• €100m investment in new technologies and innovation
• €125m to modernise certain interior spaces within the stadium as well as its surrounding urban environment, and to introduce measures to reduce its energy impact.

The agreement of the socios was necessary, according to the statutes of the Madrid club, if the debt of the club is more than 20% of its annual budget. To be validated, the management proposal had to obtain two thirds of the votes. It was adopted at 92.7% of the votes.

"The cost of this financing at fixed and long-term interest would mean an average…