Real Madrid hopes to increase its income in the coming years. Merengue club has signed a contract with Sixth Street and Legends, with the aim of improving revenue from the new Bernabeu stadium. The White House leaders’ goal is to cross one billion euros in revenue.
Facing competition from Premier League clubs and Paris Saint-Germain, Real Madrid is looking for solutions to improve its income. Florentino Perez, his boss, has big ambitions for 2023-2024, the season in which the new Bernabéu will run at full capacity. The leader will target revenues of up to 1 billion euros, much more than those achieved during the last financial year without Covid-19 (2019-2020, 822.1 million euros).
Two companies are already cooperating with Barcelona
To achieve this, the merengue makers decided to rely on the skills of Sixth Street and Legends. The first is an investment fund that owns the second, which specializes in the management of large sports stadiums. The agreement provides for the payment of 30% of the future income from the Bernabeu, over a period of 20 years.
Sixth Avenue is unknown, as it is one of the famous cranes that Barcelona used to finance their transfer window. The company has invested €207.5 million in the Catalan club, in return for 10% of the TV rights over the next 25 years. The legends are also known to have brought their expertise to run the stadiums of Atlético de Madrid, Tottenham, Arsenal or even…Barcelona. Florentino Pérez relies on him to make the Bernabéu Stadium a unique place, with events 365 days a year (concerts, matches, etc.).
Florentino Perez received a blow to the head with the failure of the Premier League project. However, the Merengue president continues to work hard to allow Real Madrid to continue fighting with the best. He’s been doing it well since his club won the Champions League, despite the (relative) austerity policy in recent seasons.