PHOTOS: Real Madrid a Step Closer to Stadium Renovation With Work Set for Late 2018
Real Madrid have edged closer to getting the green light over their plans to renovate the Santiago Bernabéu, according to reports.
Los Blancos are hoping to start works on revamping their iconic stadium by the end of this year, with the project set to cost an estimated £350m (€400m).
A report from Marca has outlined how the new look Santiago Bernabéu, which will have a retractable roof, a 360-degree video screen and shopping facilities, could get underway in a matter of months as soon as the club partners give permission to finance the works.
Real Madrid have been unable to secure any deal which will pay for the renovation, so the club will have to put themselves into debt in order for the work to go ahead.
It is unknown at this stage what effect putting the club into so much debt will have on the operation of Real Madrid's first team, but it has been widely speculated that these plans will be the final nail in the coffin for the club's Galácticos era.
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Club president Florentino Pérez has previously hinted about a decision to move Real Madrid away from the "dizzying" transfer market, with Los Blancos now set to only recruit promising players like summer signings Álvaro Odriozola and Vinícius Júnior.
"We know very well that the international footballing landscape has changed in a dizzying way and we must adapt and face up to this new reality," Pérez said back in July.
"We will put our faith strongly on the young talents that one day want to be the best in the world. That's why Real Madrid are intensely strengthening the process of looking for young players."
