Staggering final cost of new Bernabeu revealed after Real Madrid move into state-of-the-art 85,000-capacity stadium
THE cost of Real Madrid’s newly-renovated Santiago Bernabeu Stadium has been revealed.
Los Blancos announced plans for a new-look stadium back in 2017 but they have taken several years to come to fruition.
AlamyThe newly-renovated Santiago Bernabeu is expected to cost £1.5BILLION[/caption]
AFPThe stadium has spent years under renovation[/caption]
The new-look stadium was due to fully reopen four months ago, but the date has been pushed back to this summer.
While Real Madrid have continued playing there this season, some sections of the ground remain closed to the public until the official unveiling.
The complete renovation will see the capacity of the stadium increased from 81,000 to 85,000.
The Santiago Bernabeu will also boast new restaurants, bars and a space dedicated for e-sports.
Among the latest features are a retractable roof and pitch as well as a new 450-space car park underneath.
And a new 360 degree scoreboard is also set to be introduced.
While Real Madrid chiefs initially claimed the total cost of the renovation would be just over £860MILLION (€1billion), Spanish economist Hector Mohedano has worked out that it will actually come to around £1.5bn (€1.8bn).
Los Blancos signed a loan for £495m (€575m) in 2019 with a fixed interest of 2.5 per cent and an annual repayment plan of £25.5m (€29.5m) between 2023 and 2049.
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Officials then requested another £195m (€225m) loan to “finance works not initially included in the remodelling of the stadium” two years later.
A third loan worth £320m (€370m) was eventually requested with an interest rate of 5.3 per cent.
Those costs, plus the added interest, are expected to total just under £1.5bn (€1.8bn).
Real Madrid currently sit at the top of the LaLiga table, eight points clear of Barcelona.
Los Blancos also remain in Champions League contention.
They will face Manchester City in the quarter-final first leg next week.
