Real Madrid Sign New Agreement to Help Push Forward Plans for Bernabeu Redevelopment

Real Madrid have signed a deal with the multinational business company 'Legends' to help push forward their plans for the redevelopment of the Santiago Bernabeu.

Los Blancos' general assembly recently voted in favour of putting the club €525m into debt in order to redevelop the Bernabeu. Renovations are set to start in early 2019 and Madrid's president Florentino Perez has estimated that the construction should take around three and a half years to complete.

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According to Marca, Madrid have now signed a deal with Legends so that they can ensure that the project remains as profitable as possible.

Legends is a multinational business company that acts as 'a holistic solution provider for brands in sports, music and entertainment'. They have already worked with a number of top clubs around the world including Atletico Madrid, Barcelona, Manchester City and Tottenham.

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Real Madrid are hoping that the redeveloped stadium will act as the club's main source of income in years to come and officials are keen to extract as much as they can from the project, including commercial zones, a new museum and brand new technological advances.

The inner-city location of the stadium is also a major selling point and Madrid are aware that there will be many more opportunities available to them as a result.

The club's business plan outlines a strategy to earn €150m more from the stadium per year, on top of the €173m earned in the last financial year. Through this extra income, they then plan to pay off the €525m loan which they are using for the redevelopment project.