Real Madrid recently signed an extended loan for the Santiago Bernabeu renovation and expansion project set to be completed next year, according to Realmadrid.com.
The loan amounts to around €225 million with a term limit of 27 years. The agreement has a fixed interest rate of 1.53% and is set to be repaid starting July 30, 2024. These are the largest conditions ever obtained for a long-term financing loan in the sports industry.
The loan will fund the construction of an underground greenhouse that will be used to treat and maintain the condition and quality of the retractable pitch planned for the stadium renovation.
The greenhouse was not included in the original plans for the project, but is considered a necessity to keep the pitch fresh and ready for match play. It will reportedly allow the pitch at the Bernabeu to host more events while still controlling the quality throughout.