Real Madrid has revealed plans to upgrade the Estadio Santiago Bernabeu with a very bold futuristic design.
The Los Blancos have unveiled a £330m renovation plans for the club’s ground, which will make it the best stadium in the world.
A new exterior will be built that includes a retractable roof and work is due to begin at the end of the season, to be completed by 2017.
The final renovation contract was awarded to German architects GMP Architekten, in conjunction with Catalan company Ribas&Ribas, after a long tendering process.
“We want to make the Santiago Bernabeu the best stadium in the world,” said Real Madrid President Florentino Perez, speaking at the media presentation.
“Our commitment is to continue increasing the heritage of our club, thus gain in economic strength, so we can continue to lead in an environment of increasing competition.
“We believe in a project that will enhance our image, brand and city that we also feel proud of.”
Half of the financing for the project would come from selling naming rights and half from a bond issue among Real members, reports in Spanish media (Marca) have suggest.
“Real Madrid hopes to finance the operation in two different ways. Half the money will come from naming rights to the stadium, but the problem is that the companies with the kind of money necessary to pay these sums are not willing to include the name “Bernabéu” on the facade'” says the Marca report.
“If they agreed to do so, this figure would decrease considerably. The other half is to be found by issuing bonds to members in exchange for a yearly premium. In this way the club will not have to resort to a bank loan”.