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Real Madrid stadium renovation: How much did Bernabeu upgrade 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 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. It means the iconic stadium, which has hosted UCL finals in the past, is now one of the biggest in the world, competing against the likes of Wembley in London, England and Barcelona's Camp Nou.

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

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.

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?

After the Real Madrid Stadium renovation, a Santiago Bernabeu tour is expected to cost more than it did before the works began. After all, the venue has been transformed into one of the most beautiful and biggest pitches in the world.

However, before you visit the Bernabeu, note that the amount you pay depends on what you want to see inside the 84,744-seat venue.

The latest Bernabeu tour packages start from €35 and go up to €47. However, these only apply to bookings. Booking at the ticket office on the day of your visit attracts at least €3 in additional fees across all the tour packages, namely classic, classic flexible and premium. Opening time for the Bernabeu tour is 09:00, but you will have fewer hours to explore the venue on weekends and public holidays.

Further reading on the Real Madrid stadium renovation:

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Okello Steve

Okello Steve is a seasoned Sports and travel writer with over 10 years of experience in the journalistic enterprise. Steve honed his writing skills from a tender age and went on to study communication at the University and chose to pursue a writing career as an independent journalist crafting engaging content for the web on sports, casino gaming and travel.

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