Spanish football giants Real Madrid have struck a 25-year commercial partnership with experiential services agency, Legends to manage non-sporting events at the club’s Santiago Bernabéu stadium.
Legends is expecting to bring in annual revenues of between €400m to €440m through the agreement, of which the agency will receive 20 per cent.
Real had purportedly been earning €150m per year from the area prior to the pandemic.
Under the terms of the deal, Legends will reportedly be able to put on various events, including music concerts, business trade shows and conferences at the Bernabéu.
The project includes a retractable roof, premium hospitality zones and, to ensure the playing surface is unaffected during non-soccer use, a retractable pitch. Work is not expected to be completed until the end of this year at the earliest.
Should Legends make good on its revenue projections, Real will net in excess of €10 billion over the course of the contract.
