Bernabéu remodelling in danger as sponsors pull out

19 Nov 2017
new-bernabeu

The plan to remodel the Santiago Bernabéu is in danger of collapsing after sponsors, Mubadala Investment Company, have decided to withdraw from the project, El País reports today.

Three years ago, Real Madrid reached an agreement with International Petroleum Investment Company (IPIC) to grant the Emirates-based company the rights to rename the Bernabéu for 400 million euros – a figure corresponding to the budget to remodel the stadium, fit a retractable roof and construct other amenities such as a new commercial centre and a hotel. But the sponsorship deal appears to have hit the rocks after the slump in the price of petrol.

Mubadala Investment Company, the parent company of Spanish multinational Cepsa, is also facing difficulties on an internal level after former Managing Director Khadem al-Qubaisi, who signed the agreement with Madrid, was arrested in Abu Dhabi a few months ago accused of misappropriation of funds. According to Spanish daily ABC, Real Madrid plan to go ahead with the project and are looking for another sponsor.

Next Match
POLL

Can winning the Champions League save Real Madrid's season?

View Results

Loading ... Loading ...
TOP SCORERS
Leo Messi 29 Goals Barcelona
Cristiano Ronaldo 23 Goals Real Madrid
Luis Suarez 22 Goals Barcelona
Aspas 19 Goals Celta Vigo
Antoine Griezmann 18 Goals Atlético Madrid
Cristiano Ronaldo 14 Goals Real Madrid
Ben Yedder 8 Goals Sevilla
Firmino 7 Goals Liverpool
Cavani 7 Goals PSG
Harry Kane 7 Goals Tottenham Hotspur
SUBSCRIBE TO OUR NEWSLETTER
Standings

Fetching Real Madrid CF score updates, table, fixtures & results...