Real Madrid Reportedly Get Green Light From Club Members for €500m Santiago Bernabeu Overhaul

Real Madridpresident Florentino Pérez has been given the seal of approval from the club's members over his plans to temporarily put them into debt in order to revamp the infamous Santiago Bernabéu, according to reports.

It is understood that Pérez's plans will cost between €400m and €500m, but after failing to secure a huge deal with International Petroleum Investment Company over naming rights for the stadium, Real Madrid will have to finance the remodelling themselves.

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AS confirm that the club's plans, which involve putting a state of the art roof on the Bernabéu, have already been given the go-ahead by Los Blancos' 92,000 members - also known as socios.

There is now set to be a meeting on September 23 which will be to seek the next stage of approval at the club's general assembly.

Real Madrid's stadium is currently one of the largest on the planet, holding over 81,000 fans on any given matchday, and it has been the club's home since not long after World War II.

Four Champions League finals have been held at the Santiago Bernabéu over the last 70 years, while it also boasts the accolade of being the only stadium in Europe to host both a World Cup and a European Championships final.

The plans for the redevelopment would see the stadium undergo a makeover most notably to its outside, as well as a state of the art roofing system.