Real Madrid are one of the best teams in the world and also one of the most powerful. Much of that is due to Florentino Perez, who has presided over the club since 2009. According to Forbes, the American magazine specializing in the world of business and finance, Real Madrid were the second most valuable club in 2021, with a value of $4.750 million. In addition, over the last 16 years, El Merengue have occupied first place five times.
Florentino Perez is a person who thinks beyond soccer. His business and political knowledge have made Real Madrid more than just a soccer team. For example, the president of the Spanish club was the driving force behind the European Super League.
In this context, since 2019 Real Madrid have been carrying out works at their stadium. “The best stadium with the best players and the best fans in the world. Together we are building an exciting destiny. A Santiago Bernabeu that will be the pride of madridismo and that will make the greatest legend in world soccer even bigger”, Florentino Perez said in 2021. Real Madrid's growth continues, and the club's officials have signed a deal with Sixth Street and Legends.
Real Madrid to receive €360 million after signing deal with Sixth Street and Legends
Sixth Street are an investment firm, and Legends are a premium experiences company for sports and live venue organizations. According to Real Madrid's official website, this agreement was made to elevate the Santiago Bernabeu Stadium as a unique venue and a worldwide benchmark for leisure and entertainment.
Through this alliance, Sixth Street acquires the right to participate in the operation of certain new businesses of the Real Madrid stadium for twenty years. In addition, Legends will contribute its experience and knowledge in the operation of large stadiums and leisure centers, allowing for the optimization of the management of the stadium. Real Madrid will receive 360,000,000 euros and will be able to use it for whatever it wishes, be it player signings or new constructions.
It is believed that a major part of that money will be used to pay for the ongoing work at the stadium. Real Madrid aims to complete the construction works, which have a total cost of 796.5 million euros, by December 2022.
“The transformation of the Santiago Bernabeu stadium will be a turning point in the history of Real Madrid. This alliance with Sixth Street and Legends, world leaders in their respective disciplines, will be fundamental in providing unique experiences in a stadium where multiple events can be hosted throughout the year. This agreement strengthens our goal of continuing to significantly increase the stadium's revenues from both sporting and other types of events”, reads the official website of Real Madrid.
Real Madrid's new stadium will be able to host a wide range of events, from corporate congresses to conventions, musical concerts, theatrical performances, and major sporting events, such as basketball, tennis, and football matches.