Real Madrid have provided an estimated completion date for the remodelling of the 81,044 seater Santiago Bernabeu.
Work on the stadium will be conducted by FCC Construcción, who were deemed the most economically viable option after a meeting involving the club's board of directors.
As revealed in an official announcement on the club's website, the timeframe needed to complete the work is set at 39 months. Thus, an estimated completion date of August 2022 is set, while a further four months will be required to complete the stadium's exterior development.
One of the more significant changes to the Bernabeu will be the addition of a retractable roof, while the whole stadium will be wrapped in a stainless steel cover.
"The remodelling works will happen alongside the normal sporting calendar and the stadium's usual activities: Tour Bernabéu, official club store, restaurants, etc," the statement assured supporters.
"The awarding of the estadio Santiago Bernabéu Remodelling contract, along with the finalisation of the financing agreed on 12th April, means that work on the project to start immediately."
"A new stadium that will allow us to continue growing and that will be financed with the new revenues that the reform will generate," club president Florentino Perez previously said of the proposals.
"The new Santiago Bernabéu stadium will entail an important improvement for the club, but also for its surroundings. And it will allow Real Madrid to remain competitive in an increasingly difficult international football scenario."