UEFA champions Real Madrid are close to agreeing a 20-year deal to sell naming rights for the club stadium Santiago Bernabéu.
According to reports from Spanish magazine Marcia,
“Real Madrid are close to closing their most lucrative deal ever. The figures are jaw-dropping: the club is to rake in between 450 and 500 million euros over 20 years. In return, the sponsor would have the right to include its name in the stadium.”
If the deal pulls through, the UEFA champions will have stream of funds coming through to them and might as well renovate the 81,000 capacity stadium as they had earlier planned.
“The club has an agreement with IPIC (International Petroleum Investment Company), 100% owned by the royal family of Abu Dabi ,” Marca continued.
With only protesst staged by Neighbours of the Bernabéu Civil Platform and President Florentino’s consideration of fans reaction slowing the legal process, the club’s official announcement is imminent.