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Debts exceeding one billion euros. Real Madrid request third loan for Santiago Bernabéu

Spanish newspaper Marca reported that Real Madrid's management plans to obtain a third loan in order to complete the renovation of the Santiago Bernabeu stadium.

Real took advantage of the absence of fans during the Corona pandemic to start the renovation of the Santiago Bernabeu, where they worked to increase its capacity and build a new roof, as well as development work on the pitch, dressing rooms and other things.

As a result, Florentino Pérez's management borrowed twice, the first for €575 million to spend on infrastructure, and another €225 million to spend on modifications to the stadium itself.

The department is planning a third loan of up to $375 million to spend on the final phase of improving the interiors and parking spaces inside the stadium, in addition to covering additional costs caused by inflation.

On this basis, Real Madrid's debt due to its new stadium will amount to more than €1.7 billion.

Florentino Pérez needs the loan to be approved first by Real Madrid's General Assembly, which is almost guaranteed to happen at the next meeting in the next few weeks.

The new stadium will generate 360 million euros a year for Real Madrid once it is completed due to the club's agreement with Sixth Street and Legends, so banks don't mind lending the Merengue any money.

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