The new Santiago Bernabéu may end up costing Real Madrid a fortune, how the war in Ukraine is affecting the project

Real Madrid's new Santiago Bernabéu continues to take shape and gradually resembles the original model, although there is still more than a year to go before the work is completed. There is still a lot of work to be done, and although the most optimistic forecasts speak of June 2023 as a possible delivery date, it is most likely that everything will be finished by the end of next year, including the urbanization of the stadium's surroundings, which is also essential to give shine to what will be the most spectacular stadium in the world.

The remodeling works at the Santiago Bernabéu continue and Real Madrid is confident that they will be completed next year. These works could end up costing a billion euros. According to Ramón Álvarez de Mon, Real Madrid is considering requesting a new loan of between 150 million and 200 million euros.

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The reason for requesting this new loan is the cost overruns due to the war in Ukraine and inflation. There has been an increase in the cost of raw materials due to the war and this has caused the remodeling works to be delayed and become more expensive.

The total cost overrun could reach €400 million and the total amount would reach €1 billion. Real Madrid started by signing in 2019 a loan for 575 million euros. A loan with a fixed interest rate of 2.5%, with an annual repayment schedule of €29.5 million between 2023 and 2049. In 2021, Real Madrid requested a further 225 million from the bank to "finance works not initially included in the remodeling of the stadium", as explained by the club, which obtained the approval of the members at the Assembly.

New loan for Madrid

Now, with this new loan that Real Madrid is studying, the remodeling works of the Santiago Bernabéu could reach those one billion euros. A huge cost overrun that the club hopes to alleviate with the operation of the new stadium, which will be open all year round and will become a leisure center beyond soccer.