Madrid is one of the most popular cities in Europe, and home to one of the biggest football clubs in the world, Real Madrid. The club has been playing at the historic Santiago Bernabeu Stadium for over 70 years, but recently announced plans to construct a new state-of-the-art stadium in its place. The project is expected to be one of the most expensive stadiums ever built, with an estimated cost of over €1 billion.
What to Expect From The New Stadium
The new stadium, which will be located on the site of the current Bernabeu, will have a seating capacity of 80,242 spectators. The design includes a retractable roof and a 360-degree video screen that will surround the entire stadium. This massive video screen will be used for live match coverage as well as advertising and entertainment purposes.
Why Build A New Stadium?
Real Madrid’s decision to build a new stadium was largely driven by commercial factors. The club’s president, Florentino Perez, has stated that they need to modernize their facilities in order to compete with other top European clubs such as Manchester United and Barcelona. Additionally, Real Madrid hopes that the new stadium will become a tourist attraction in its own right, generating additional revenue for the club and city.
How Much Will It Cost?
The total cost of building the new stadium is estimated at €1.4 billion ($1.6 billion). This includes not only construction costs but also land acquisition expenses and associated infrastructure costs such as road improvements and public transport links.
Financing
Real Madrid expects to finance much of this through corporate sponsorships and naming rights deals with major companies. They have already secured a deal with Abu Dhabi-based IPIC (International Petroleum Investment Company), which reportedly paid €400 million ($480 million) for naming rights over a 20-year period. The club is also exploring the possibility of issuing bonds to raise additional funds.
Conclusion
The construction of the new stadium is expected to take approximately three and a half years, with completion scheduled for 2022. Real Madrid’s decision to build a new stadium represents a significant investment in the club’s future, and one that they hope will pay dividends both on and off the field. With its cutting-edge technology and massive video screen, it promises to be one of the most impressive stadiums in the world.
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