Real Madrid Looking To Secure Deal With Naming Rights Sponsor For Santiago Bernabéu

Real Madrid is in Abu Dhabi, where it will compete in the Club World Cup, according to Fermín de la Calle of EL CONFIDENCIAL. Club President Florentino Pérez's "objective is to find" a sponsor willing to pay €400M ($470M) for the naming rights to the Santiago Bernabéu. Renovations to the stadium "are dependent upon such an agreement." Real Madrid signed a deal with investment firm IPIC in '14, but delays to the project led to the agreement being terminated. Now, Real Madrid has approval from the Madrid City Council to "carry out the remodeling, but needs an investor" willing to spend the €400M that the project will cost. In exchange, the Bernabéu "will be renamed after the business that makes the investment." Pérez "wants to secure the naming rights deal in the coming weeks so he can turn his focus to planning the team's roster for next season" (EL CONFIDENCIAL, 12/12).