Real Madrid Unveils Eye-Watering Price Tag for Santiago Bernabeu's Stunning Transformation

Real Madrid have officially announced that their expenditure has exceeded €1 billion ($1.3 billion) for the continuous renovation project at the Santiago Bernabéu stadium.

Commencing in 2019, Real Madrid approved comprehensive modernization efforts for their iconic venue, incorporating a retractable roof system and removable playing surface alongside numerous additional enhancements.

All structural construction has been finalized, with Madrid now concentrating on implementing additional commercial facilities to transform the Bernabéu into a versatile entertainment venue designed to generate revenue through various hosting opportunities.

According to their most recent financial reports, Madrid disclosed that their total investment in the Bernabéu has reached an impressive €1.3 billion ($1.5 billion). The organization indicated this figure approaches the projected final amount.

A significant portion was financed through borrowing, which Madrid has begun to repay. The outstanding debt currently stands at €1.1 billion ($1.3 billion).

"The concluding phases of the stadium renovation will take place throughout the 2025/26 fiscal period," according to an official statement, "encompassing specific hospitality services and acoustic improvements for musical performances.

"While awaiting the restart of concerts at the venue, subject to regulatory approval, the Club expects continued revenue increases from premium seating, the RM Experience program and additional stadium commercial ventures, highlighted by the significant opportunity to host an NFL match at the facility."

Stadium financing has been maintained largely independent from Madrid's operational budget. The club recorded a cash reserve of €166 million ($193 million)—double the amount from the 2023–24 campaign—and €1.2 billion ($1.4 billion) in total revenue, though stadium expenses remain excluded from these figures.