Real Madrid stadium renovation 2023: What has it cost?

With a new retractable roof, pitch storage and removal system, a futuristic wrap-around and several other stunning features, the Real Madrid stadium renovation at the Santiago Bernabeu has drawn great attention across the world.

What was already one of the most iconic stadiums in world football has transformed into something even more spectacular, from the inside at least. For all the key information on the Bernabeu renovation, check out our guide below.

What is the Santiago Bernabeu renovation and upgrade?

The Bernabeu upgrade has increased the historic football ground's capacity from around 81,000 to at least 84,000. Boosting the capacity of the stadium, which was already one of the biggest in the world, wasn't the main priority of the renovation work, though. The driving force behind it was a desire to modernise the Bernabeu and turn it into a modern stadium.

One of the most complicated stages of the renovation has been the implementation of a world-leading pitch storage and removal system.

🏟️🌱👀 ¡El césped retráctil del Bernabéu como nunca lo habías visto!#RealFootball pic.twitter.com/r2TkzsiNPv

— Real Madrid C.F. (@realmadrid) September 5, 2023

In the video above, Real Madrid demonstrate how the pitch is separated into six sections, stored beneath the surface in a temperature- and light-controlled environment. The storage facility is, in essence, a greenhouse that will ensure the highest-quality playing surface.

The stadium now boasts the biggest retractable roof in the world, with two enormous, 800-tonne panels which can come over the pitch to create one of the largest indoor arenas in the world. The roof was kept closed for Real Madrid's first home game of this 2023/24 La Liga season against Getafe.

Elsewhere, the exterior of the ground is spaceship-esque, a dedicated esports area is now included, and there has been a major security overhaul as well as an upgraded museum.

How much did the Real Madrid stadium renovation cost?

So, how did all of this cost?Well, the exact figure is not clear, nor disclosed. In 2019, a deal was agreed with JP Morgan and Bank of America to loan €575m. A further loan of €225m was added in 2021 as plans expanded in scope. Another loan was then considered as costs continued to rise due to the COVID-19 pandemic and increased material costs due to Russia's invasion of Ukraine.

It's estimated that reconstruction costs came to around €1bn, which consequently makes it one of the most expensive football stadiums in the world. This figure is quite remarkable when you consider they only added 3,000 more seats to the stadium's capacity.

Real Madrid will pay back these loans over several decades and hope to recoup their expenditure at speed. It's suggested that the club's revenues from the Santiago Bernabeu stadium will increase from €150m per year to €400m per year.

A deal with Sixth Street and Legends of up to €360m has already been agreed.

Who designed the Real Madrid stadium renovation?

Stadium designs play a pivotal role in their overall appearance. It is often a critical stage in the construction process as the artistic renderings thereof give fans and other stakeholders an impressive view of what is to come.

Two Spanish studios, L35 and Ribas & Ribas and the German studio GMP Architecten designed the Santiago Bernabeu.

Back in 1947 upon the stadium's original construction, the architects Manuel Muñoz Monasterio and Luis Alemany Soler were behind the plans.

Real Madrid Stadium Renovation | Real Madrid Stadium Upgrade | Full interior shot of new Santiago Bernabeu with retractable roof and pitch — The new interior of Real Madrid's Santiago Bernabeu. Photo by Icon Sport.

Real Madrid stadium timeline

1944: Santiago Bernabéu and Rafael Salgado are given credit by the Banco Mercantil e Industrial bank to purchase the land next to Real Madrid's old Chamartín Stadium. Architects Manuel Muñoz Monasterio and Luis Alemany Soler were hired in September, and construction began in October.

1947: The stadium, officially named Estadio Real Madrid Club de Fútbol, was inaugurated.

1955: The General Assembly of Members Compromisaros named the stadium, up until this point more informally known simply as Chamartín, in honour of club President Santiago Bernabeu.

1955: The stadium enjoyed its first major reconstruction, increasing capacity to 125,000.

1972: The first electronic scoreboard was set up in the stadium.

1994: Following UEFA's guidelines for spectator safety, the Bernabeu was upgraded to provide a more comfortable experience.

2018: Pérez's renovation plans to revamp the stadium were approved in the 2018 General Assembly.

2019: The remodelling process of the Santiago Bernabeu began.

2022: Work was to be completed by 2022, but the COVID-19 pandemic and war in Ukraine delayed plans.

2023: The Real Madrid stadium upgrade is completed in December 2023.

2024: The renovated stadium will be launched in 2024, following a series of events lined up at the venue, including performances by international artists such as Taylor Swift. The club will announce the official unveiling date at a later date.

How do you do a Real Madrid stadium tour?

Real Madrid offers a number of options to tour the renovated stadium. The cheapest package is the ‘classic' at €35, which includes the Real Madrid museum, a panoramic view inside the stadium and a chance to see the changing rooms and dugouts.

Meanwhile, the ‘classic + RM Games' tour is the most expensive package at €57. It includes all the benefits of the ‘classic', but also offers exclusive access to the RM Games area.

You can purchase the tour via the Real Madrid website, or at the ticket office on the day, although the latter will cost €3 more than an online purchase.

It is also possible to save up to 20% on the stadium tour by signing up to a Madrista Premium membership, which is available for €30 or €35 depending on your payment method.,