Real announce plans to redevelop Bernabeu

– Real Madrid’s plan to upgrade the Santiago Bernabeu by 2022 at a cost of €525 million was given the green light on Sunday.

The financing of the plan was approved at the club’s annual assembly, with work due to begin on the stadium at the start of next year.

The proposed changes do not include an expansion to the stadium’s capacity of just over 81 000.

Madrid have announced record revenue of €750.9m for 2017/18 and president Florentino Perez believes the completed project will bring in an extra €150m per year.

Perez said the loan would amount to up to €575m, over a maximum period of 35 years. –

Madrid