Real Madrid will ask its partners for an increase in debt for the new work on the Bernabéu lawn
The Real Madrid team has summoned all its representative partners for next November 20 to carry out the approval of the 2020-21 budget.
The intentions of Florentino Pérez are to request the approval of the budget and request permission from the Extraordinary Assembly so that the different partners can increase the financing of the great work of the stadium in order to be able to include the cost of the enormous technological project that is to be placed and to be able to divide the movable lawn into six strips.
Said grass would be stored in the white cellar. It will have a state-of-the-art transport system where it will be cared for and watered, keeping it at an optimal temperature. The grass would not be being affected by the weather conditions, so its duration will be much longer.
A much more versatile stadium
By implementing mobile turf technology, it will allow the stadium to be much more versatile so that the area will serve to hold basketball, ice hockey or NBA games, as long as the grass is collected.
In addition, the Santiago Bernabéu would also allow the holding of public events such as presentations or musical concerts. Which will allow you to get much more income through non-football events.
The headquarters would be used every time there is no football match, for any kind of event and each of these events will allow obtaining half of the 155 million euros that the white entity plans to collect to carry out the idea of the mobile lawn and multipurpose track.
For the month of April 2019, Real Madrid approved the financing of the new Bernabéu with a total cost of 575 million euros and with a total term of 30 years to pay them with fixed interest of 2.5%. However, this funded figure will now be increased.
It must be remembered that the new remodeling of the Bernabéu is considered the stadium of the future to which they now want to add a multipurpose court with a shifting grass and make the football stadium much more versatile and with greater economic tickets.
Official statement from Real Madrid to its partners
The Board of Directors of Real Madrid has agreed:
A) To summon all the members representing the period from July 1, 2020 to June 30, 2024. To the Ordinary General Assembly, which will be held in person and online at the basketball pavilion of the Real Madrid City.
It will take place next Saturday, November 20. The Ordinary General Assembly will begin at 9:00 a.m., on the first call and for the second call at 10:00 a.m., according to the following agenda.
Club president's report.
The settlement of the Budget, the Report, the Profit and Loss Account and the Balance Sheet corresponding to the Fiscal Year between 2020-2021.
The examination and approval of the Income and Expenditure Budget and the Activities Project for Fiscal Year 2021-2022.
The social quota proposal for the 2022-2023 season.
The requests and the questions.
B) Carry out the call to the Extraordinary General Assembly of club members for November 20, 2021. Which will be held after the Ordinary Assembly, according to the following agenda:
The proposal for the extension of the authorization of the Board of Directors of the club to be able to borrow in order to be able to finance the works not included at the beginning of the remodeling of the Santiago Bernabéu stadium. All the documentation necessary for the Assembly is available for the representative members.