WILL FLORENTINO BE ABLE TO SUSTAIN HIS EXCESSIVE INVESTMENT?
Triple what was planned! The brutal cost overruns in the works of the Santiago Bernabéu
Published:26/03/2024 - 11:53h
Updated:27/03/2024 - 06:26h
Real Madrid have taken on the remodelling of their stadium as a project that could not go wrong, and in the end they have had more problems than expected, especially with regard to the final costs
The remodeling of Santiago Bernabéu is a project that began to gestarse in 2012 and surely from there began already of a little ideal way. That first idea did not present to the partners of the Real Madrid until September of the 2018, which on 12 April of the 2019 approved a line of finance of 575 millions to carry out the remodeling, but that figure has remained in a figure almost irrisoria.
Little despupes, Florentino Pérez took advantage of the prohibition of public in the stadiums that brought the pandemia by COVID-19 to speed up the works. But the reality is that the inauguration of the new Bernabéu carries already year and half of delay by errors of planning in the project that also have increased exponencialmente his final cost, arriving even to triplicar these 575 'kilos' initial that had approved .
Like this it has explained it Héctor Mohedano in his account of X, signalling that of the 575 initial millions has happened to 1.170. This, before explaining the interests that these three loans will generate until 2053, date in which will give back the last of them. These interests will elevate the final price of the new Santiago Bernabéu until the 1.948,5 millions, brushing even a multiplication by four of the original figure.
💸⚽️ It does very few days have PUBLISHED the Financial States Intervals 23/24 of the REAL MADRID and at last can know which goes to be the TOTAL COST (with interests) of the New Stadium Santiago Bernabéu
— Héctor Mohedano (@HMohedano_) March 24, 2024
I explain it to you in detail… 👇🏼 pic.twitter.com/onjvggaqen
This final quantity, with included interests, arrived afterwards that in 2021 added a second line of finance by value of 225 'kilos' more when adding new works to the project, like the retractable ceiling. And the year happened still had to ask a new credit of 370 millions to assume new enlargements in the project. It is thus that Mohedano aims that the annual cost for the arks of the Madrid is of 66 millions, with a half interest of the 3,20 percent. An authentic madness for many, although no so much for the followers of Florentino.
