MADRID (Reuters) - Real Madrid have secured financing to revamp the Santiago Bernabeu stadium with construction due to begin at the end of this season for completion by 2023, the Liga club said in a statement on Friday.
Real, who last week unveiled ambitious plans for a"digital stadium of the future", secured a 575 million euros loan that they will start paying back in 2023 at a fixed 2.5 percent interest rate through to 2049.
Real said the facelift, which will not increase the 81,000 capacity, would not affect other aspects of the club including player transfers, which will please coach Zinedine Zidane. “The new income generated by the renovation will not only finance the costs of the works but will also significantly increase the club’s recurring revenues, thus allowing Real Madrid to maintain its sports and economic leadership for the decades to come,2 the statement read.
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