Real Madrid's board is pursuing approval for a third loan of €370 million (£322 million, $391 million) from club members to fund the remaining expenses of the Santiago Bernabeu stadium's extensive renovation.
As reported by The Athletic, Real Madrid is requesting its members to contribute to a third low-interest loan to ensure the successful completion of the ambitious Santiago Bernabeu renovation project. The project's costs have escalated, with the total now estimated at €1.4 billion (£1.2 billion, $1.5 billion). According to the report, it is anticipated that members will grant their approval for this request.
The modernized version of the iconic Santiago Bernabeu stadium was initially scheduled to open by the end of 2022. However, financial challenges stemming from the COVID-19 pandemic and the conflict in Ukraine have compelled Real Madrid to reassess the timeline. Consequently, the team has been using a reduced-capacity version of the stadium for nearly two years.
Real Madrid is set to host Rayo Vallecano this weekend and aims to return to playing in a full-capacity Santiago Bernabeu stadium by December.
