Loan of 390 million dollars from Real Madrid

The famous Spanish soccer club Real Madrid is preparing to borrow an additional $390 million (€370 million) to use as part of the Santiago Bernabéu stadium renovation project.

According to Bloomberg, based on two sources familiar with the matter, management must receive approval from the general assembly to borrow in the private debt market.

It was specified that the payment of the debt will be made with the income that the club will obtain from the sale of tickets.

Real Madrid representatives did not respond to Bloomberg’s questions on the subject.

The Madrid team, which has 14 Champions League trophies in its museum, has gone into debt several times since 2019 to use them in the stadium renovation project.

Now that the renovation project reaches its final phase, events such as concerts and tennis matches can be held at the Santiago Bernabéu stadium, while the grass field can be moved to a special area. In this way, the club intends to increase its income.

HIGH DEBT OF THE GIANTS OF EUROPE

In recent years, Europe’s giant clubs have accelerated borrowing from the private debt market.

Another Spanish giant, Barcelona, ​​also borrowed 1.5 billion euros from private investors to renovate the famous Camp Nou stadium.

English club Chelsea also borrowed $604 million (£500 million) from American company Ares Management.

American investors, who have bought many European clubs in recent years, also establish relationships with giant clubs with association status such as Real Madrid and Barcelona through debt.

The Chelsea club was sold last year for $5.2 billion to a consortium that included Todd Boehly, a partner in the Los Angeles Dodgers, one of the American League Baseball teams, as well as Clearlake Capital, Mark Walter and Hansjoerg. Wyss.