Wed. Apr 24th, 2019

There is already money for the new Santiago Bernabéu

There is already money for the new Santiago Bernabéu


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Through a statement, Real Madrid has announced the signing of the financing agreement for the construction of the new Santiago Bernabéu, for an amount of 575 million euros, for a term of 30 years and a fixed interest rate of 2.5%, without having to provide any type of mortgage guarantee. "This financing has been structured through a loan with three tranches, July 2019, July 2020 and July 2021, which coincide with the planned needs for the payment of the works.The loan also includes 3 years of grace of amortization of the principal, which will make Real Madrid pay a fixed annual fee of 29.5 million euros, from July 30, 2023 and until its expiration on July 30, 2049. "Real Madrid account has closed "this operation without having to provide any type of mortgage guarantee or financial limitation on the management or indebtedness of the Club, so that it can develop its normal activity without being affected by the payment of the works".

Enrique Sánchez, secretary of the Board of Directors, and Eduardo García, Clifford Chance's lawyer, staged the signature after the meeting of the Board where the closing of the financing was approved, in accordance with the authorization received from the Ordinary General Assembly of Committees. from last September 23.

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