Real Madrid To Renovate Bernabeu Stadium, Selling Naming Rights
Real Madrid's Santiago Bernabeu stadium is set to undergo renovations to modernize the facility. Its façade will be renovated to feature a state-of-the-art design and the venue itself will have leisure facilities and restaurants integrated in its structure (Real Madrid). In Barcelona, MUNDO DEPORTIVO's Manel Bruña reported the intention is that the new space has "restaurants, expensive stores, underground parking with 1,500 spots and a luxury hotel with exclusive access to the stadium." The club calculated that the reforms "will require an investment of €100M ($122.4M) to be paid back in four years" (MUNDODEPORTIVO, 7/17).
SEEKING SPONSORSHIP: ECODIARIO.es reported that in the upcoming days, Real Madrid President Florentino Perez's management team could increase its efforts to find a main sponsor for the stadium. If a deal is reached, the stadium would change its name to the company sponsoring it, but would keep "Bernabeu" as its last name. Such a deal "could return close to €50M ($61.2M) a season" to the team. Combined with the €22M shirt deal signed with Fly Emirates that goes into effect at the start of the '13-14 season, the club could receive close to €75M ($91.8M) in sponsorships alone. Not to mention the €136M ($166.5M) they receive each year for TV rights. Overall, that would be €210M ($257.1M) per campaign, which would make Real Madrid "the club with the highest revenue on the planet" (ECODIARIO.es, 7/17). ARCHDAILY.com's Vanessa Quirk reported that Real Madrid assembled an "all-star cast of architects to go head to head" for the right to renovate the Santiago Bernabeu. The three contenders are each made up of one Spanish and one foreign firm. The fist pairing is Herzog and de Meuron and Rafael Moneo. The second is Norman Foster and Rafael de La-Hoz. The last pair is Populous and Estudio Lamela. The teams have "until Sept. 15th to get their proposals in" (ARCHDAILY.com, 7/10).