Real Madrid is all set to rename their iconic stadium as they look to fund their stadium expansion. Santiago Bernabeu will be renamed to Abu Dhabi Bernabeu stadium after the UAE consortium will pay 500 mn euros as the sponsorship fee.
Madrid being a global entity have considerable presence and fan base in UAE and have sought backing from United Arab Emirates-based International Petroleum Investment Company.
Real Madrid is looking to raise funds for their stadium as they plan to stay within FFP and improve their facilities. Florentino Perez, Madrid’s president has stated that it is imperative to change the name of the stadium in order to raise funds. There was some fans backlash after club decided to change its stadium name.
"I am killing myself to create the best stadium in the world," said Perez in September.
"If you want to do it without debt, the only possibility is that we take a sponsor's name which could give us the 400m or 500m euros the new stadium is worth."
Earlier the stadium was named in honor of Real Madrid’s legendary player, manager and President Santiago Bernabeu. Bernabeu oversaw the development of the new stadium as the president of Real Madrid. There is an alternative name suggested as well. It will be named The Cepsa Santiago Bernabeu if the former name is scrapped.
The sentiments of attached with the name are being put to the test by the club as they plan to keep their financial records of the club clear off FFP.
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