Real Madrid: the Santiago Bernabéu should be renamed "Abu Dhabi Bernabéu" (AS)

The stadium of Real Madrid CF (Liga BBVA) is likely be renamed the "Abu Dhabi Bernabéu", announced the Spanish daily AS on 28/01/2015. The name change is the result of the partnership between IPIC (International Petroleum Investment Company), an Emriati investment fund that is 100% owned by the Emirate of Abu Dhabi (United Arab Emirates) and run by members of the Royal family members, and Real Madrid on 28/10/2014.

This agreement was always thought to concern the naming rights to the Santiago Bernabéu (85,000 seats). The financing from this partnership will allow Real Madrid to finance the renovation of the stadium. The club presented a renovation project valued at €400m on 31/01/2014. The re-naming of the stadium could become official when the renovation work begins.

A naming contract valued at €450m over 20 years

• The contract is valued between €450m and €500m over 20 years, €22.5-25m annually, according to Spanish sports daily Marca on 21/09/2014.
• This agreement would represent the largest partnership in the world for naming contract. Currently, the most lucrative agreement…