Real Madrid presents 400M euro Bernabeu redesign

MADRID (AP) - Real Madrid presented its redesign of the Santiago Bernabeu Stadium on Friday, a reported 400 million euros ($540 million) renovation it expects will transform its home ground into a world icon.

German company GMT Architects, which has also designed the Arena Amazonia World Cup stadium in Manaus, Brazil, will lead the redesign which will see the stadium receive a new exterior with a hotel and shopping center added.

Madrid, which has debts of over 500 million euros ($675 million), plans to finance the project by selling naming rights to the stadium and through a bond issue among Madrid members.

President Florentino Perez says “we want the new stadium to be a world icon.”

The Bernabeu, which was inaugurated in 1947, was last reworked for the 1982 World Cup.

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