Real Madrid sign 360 million euro Bernabéu deal with Sixth Street
Real Madrid have sealed an agreement for 360M euros con la firma de investment firm Sixth Street and stadium hospitality specialists Legends.
Real Madrid have reached a 360 million euro ($380.95 million) agreement with Sixth Street that will allow the US-based investment firm to host events at the renovated Santiago Bernabéu stadium, the LaLiga club said on Thursday.
The Spanish champions, who clinched a record-extending 35th LaLiga title at the end of last month, said the partnership included Legends, a premium experiences company that caters to sports and live venue organisations. Sixth Street, which has more than $60 billion of assets under management, has experience in infrastructure and sports. It has invested a majority stake in Legends. The agreement, which the club said would allow for multiple events to be hosted at the stadium throughout the year, was ratified at a meeting of Real Madrid’s board of directors on Wednesday.
Real Madrid’s statement on Sixth Street deal
“As part of the long-term partnership, Real Madrid will receive approximately 360 million euros to be invested across any of the club’s activities,” Real Madrid said in a statement. “Through this alliance, Sixth Street acquires the right to participate in the operation of certain new businesses of the Santiago Bernabeu stadium for twenty years. ‘In addition, Legends will contribute its experience and knowledge in the operation of large stadiums and leisure centers, allowing for the optimization of the management of the Santiago Bernabéu stadium.”
Real Madrid played last season at the Alfredo di Stéfano stadium, based at their training complex as the Bernabéu was being remodelled, returning to their usual home for LaLiga matches in September last year.