Real Madrid granted €225m loan for underground greenhouse construction

09 Dec 2021

Real Madrid has taken out a €225 million loan for a new phase of renovations at the Santiago Bernabeu, which will include the installation of an underground greenhouse.

Los Blancos announced plans for the €525 million renovation four years ago, with the project expected to increase capacity by 4,000 to 85,000 seats and include a retractable roof and pitch.

Construction on the stadium began in 2020, during the early months of the coronavirus pandemic, and Real Madrid began playing home matches at Estadio Alfredo Di Stéfano, the club’s training facility, when the 2020-21 season resumed.

Real Madrid returned to the Santiago Bernabéu in September this year, but much of the renovation work is still ongoing, with the club now confirming that an additional phase has been added.

Even when the playing surface is retracted, the subterranean greenhouse will keep it spotless.

A club statement provided the following information about the loan and how it was used: “Real Madrid has signed a new loan for a total amount of €225 million, with a term of 27 years and a fixed interest rate of 1.53%, to extend the financing of the works not initially included in the Santiago Bernabeu stadium remodelling project.

“These are the best long-term financing terms ever obtained in the sports industry. Real Madrid will not begin repaying the loan until July 30, 2024, because the loan includes a grace period for principal repayment.

“The funds will be used to build a large underground greenhouse that was not anticipated in the initial design due to its complexity, but was solved technologically at a later date.

“This greenhouse will enable the pitch to be automatically removed and preserved in optimal conditions.

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