The first thing that will fall when the season ends will be the shopping center known as the corner of the Bernabéu. It will be the beginning of the works, the first effective step of a process that is scheduled to last more than 40 months, four years for the new Santiago Bernabéu to be ready. Today at
13:30 hours, Manuela Carmena, mayor of Madrid and the president of the club, Florentino Perez, will give officiality to the reform, once the bureaucratic process is over, that all the licenses have been approved and that the machines to demolish first what is necessary and to build later the future madridista stage, which is going to suppose to modernize the home of the white fans and to have a stadium to the height of the times.
It is the great project of Florentino Pérez. In Real Madrid it is considered that the Santiago Bernabéu, unlike other European clubs, you get very little performance. The stadium has to be the meeting place for white fans, but also a leisure area from which to get the maximum benefit. From the white entity thinks that if you want to compete with clubs that do not need to generate their own income, we must exploit marketing as it is being done, take advantage of the global nature of football and turn the stadium into a source of economic resources. Many of the meetings of the marketing staff of the white entity in recent months are with large companies with which to negotiate a "stand" within the stadium. That when an amateur goes to football he can also do other things and the building produces when he has not left.
The reform project has already been presented: besides changing what is now the Plaza de los Sagrados Corazones, the stadium will have a new skin, it will be covered, which will give it a much more modern, spectacular and changing colors. It will have a retractable roof that will be able to close the enclosure on rainy days. Inside, they will change the markers and the entire venue will be ready for the latest technological advances. There is no significant increase in seats for spectators, because it has not been thought necessary, but a general modernization.
What Carmena and Florentino are going to do today is to give officiality to the beginning of the reform, that the project that was presented months ago has no news. At first, the idea was to also make a hotel, but the limitations put by the municipality to the works forced to change plans. It has not been an easy way to get here. The magnitude of the work has generated much paperwork and some moment of friction between the town hall and the club. It exceeded. The other obstacle was also overcome: Real Madrid thought that the company that owns Cepsa was going to put the surname on the stadium and that way they were going to pay for the remodeling works, but in the end, halfway down, it was withdrawn.
What remains to be revealed is who is going to take charge of the work. Ferrovial, Acciona, FCC and San José are the ones that have spoken with the club. It is assumed that the construction company is already chosen, but it is not clear that today the president announces who he is. The other issue to be resolved is how the operation will be financed. In the last Assembly of delegates, Florentino Pérez asked permission to request a loan and get into debt in more than 500 million and with 25 years to be able to pay them. According to El Confidencial, a loan will be received from Bank of America Merrill Lynch and JP Morgan, which will issue bonds for the same amount to institutional investors.
Although the works are going to last almost four years, the objective is that they do not alter the development of the season. That's why the works begin this summer and it will be in the times without a match when you work with more intensity. And if it is necessary to modify the league schedule, as has happened this season with other clubs, permission will be requested.