Real Madrid: 893 million euros cost of the new Bernabu
ANDhe real Madrid has continued with the execution of the plays in the 2022-23 financial year, estimating the completion of the essential part of them by the end of 2023. The execution of the works has been carried out according to the planned plan., making it compatible with holding matches at the Santiago Bernabú. The amount of the investment recorded in the 2022-23 financial year was 355 million euros, including the financial costs capitalized during the construction period. Thus, the cumulative investment up to June 30, 2023 amounts to 893 million euros.
As regards the loan, the entire 800 million euros were made available during the previous year. The first repayment of the loan will be made during the 2023-24 financial year, on July 30, 2023, assuming a fee of 34 million euros to be paid.
A key fact that will determine the economic evolution of the next financial year 2023-24 is the forecast that the work of the remodeling of the stadium will endin essence, at the end of 2023Therefore, for accounting purposes, the investment is expected to become operational from January 1, 2024, with the effect that the investment begins to be amortized from that date and the financial expenses of the stadium loan will no longer be capitalized.
The other relevant effect of this completion of the works is the increase in income, both from ordinary/vip capacity and from commercial exploitation of the facilities (tour, events, bars and restaurants, shop). It is estimated that the increase in income due to the full commercial availability of the stadium will start from January 2024 and will develop progressively, so the increase in income due to the explanation of the stadium will increase.