Madrid, Real Madrid will set the wheels in motion with regards to restructuring the Estadio Santiago Bernabeu and plans will be presented to the Assembly of Members on Sunday.
This meeting will see the accounts from the 2017/18 season officially declared whilst the budgetary decisions for the current campaign will be approved by members.
This budget will begin to take into account the costs involved with the stadium redevelopment project, which is set to catapult Los Blancos’ famous home into the same category as Tottenham Hotspur’s highly anticipated new stadium.
Los Blancos have been working diligently behind the scenes to ensure that this project can begin as soon as possible, and the financial plans only now need to be approved by the Board of Directors.
The project will be licensed by the Madrid City Council, and the contractors who will oversee the work are already being contacted and put in place.
Receiving the final building permit is not likely to prove problematic, and the reality is that the plans will be concrete sometime in October.
The cost of these projects will reach 400 million euros although there is yet to be a sponsor.
A viable financing plan has been concocted by those in power at Real Madrid and there are not worries about the club being able to complete the development in an efficient manner, the Spanish MARCA newspaper reported.
Source: Oman News Agency