Real Madrid agree 25-year deal with events firm that will pocket them over £8bn

Real Madrid have reportedly agreed an £8billion deal with an American firm to stage events at the Bernabeu for the next 25 years.

Madrid are currently in the process of renovating their historic home to make it fit for the 21st century.

Once completed, the stadium will boast a host of exciting new features.

They include a high-tech retractable playing surface, similar to the one found at the new Tottenham Hotspur Stadium.

Plus, five new restaurants dotted a redeveloped upper section, with a sky bar and shopping mall also added to the concourse.

The re-design is expected to eventually come in at a reported £700million, but it seems the club are already reaping the rewards.

According to Spanish outlet Vozpopuli, Madrid have agreed a 25-year deal worth £8billion with American company Legends.

The agreement will allow the Bernabeu to be used for different events other than football.

Presumably, as is the case with Tottenham's new stadium and West Ham's London Stadium, this includes concerts and music gigs.

Legends is owned by Sixth Street, one of the largest private capital investment platforms in the world.

The fund already has its tentacles in the world of sport and owns 20% of the NBA's San Antonio Spurs.

Will you go and see the new look Bernabeu once it's completed? Let us know in the comments section.

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The reports suggests the Spurs could play some games at the Bernabeu as part of the agreement.

It adds that Legends are also set to inject around £125million into the redevelopment project, a figure which could rise to £366million depending on whether staff and construction targets are met.

Madrid's latest addition to the redevelopment project involves the building of two underground car parks under with a provision for 1,667 spaces.

The final stages of construction are due to be completed in June, with the new look arena ready to welcome back the players for the start of the 2022-23 season.

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