Real Madrid agreed to a long-term strategic partnership with Abu Dhabi’s Int'l Petroleum Investment Co. "which it expects will strengthen the club’s status as the world’s richest and also help fund a planned stadium overhaul," according to REUTERS. IPIC said that both parties "agreed not to divulge the length or the value of the deal." The agreement "includes setting up Real museums and expanding the club’s global footprint of football schools, as well as creating content for digital-media platforms." IPIC said, “The commercial arrangements will enable Real Madrid to meet one of its most fundamental future challenges, to convert the [Bernabéu] stadium into the best sporting venue in the world." Real Madrid has "chosen a design led by the German architect GMP for the remodeling of the Bernabéu," which opened in the '50s and holds just over 80,000 spectators, at an estimated cost of €400M ($510) (REUTERS, 10/28). In Madrid, Ana Duro reported Real Madrid President Florentino Pérez assured that one of the club's "greatest challenges" is "making the Bernabéu the best stadium in the world." Pérez: "Real Madrid's calling is to be the best club of the 21st century. This agreement is a guarantee of success for both institutions. It will help us to further strengthen the Real Madrid brand on all continents and carry out a series of decisive projects. ... We want an iconic building to celebrate our accomplishments" (MARCA, 10/28).
