Real Madrid to digitalize Bernabeu in new deal with Telefónica
15 February 2019
Real Madrid are supposedly allocating €100 million of the budget for the new stadium redevelopment to Spanish telecommunications giant.
A new contract between Real Madrid and Telefónica is going to make the Spanish telecommunications giant one of La Liga’s biggest sponsors, claims Spanish news media Palco23.
The two have previously closed deals in the 2016/17 season and the 2017/18 campaign, but Telefónica opted not to extend that contract.
Real Madrid want to spend the €100 million on a total digitalization of the Bernabeu Stadium, which will include free Wi-Fi access, a 360-degree video scoreboard and as well as the latest advances in digital technology including the application of audiovisual media in various parts of the stadium.
President of Real Madrid Florentino Perez has revealed the estimated cost of Real Madrid’s stadium project is set to €525 million.
According to Spanish news service El Confidencial, the club has secured a €575 million loan for redeveloping the stadium from US bankers JP Morgan and Merill Lynch which is to be financed over a period of 30 years, with a maximum interest of 2.5 per cent, amounting to an annual payment of €25 million.