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The new Bernabu and his billionaire American partner: Legends | LaLiga Santander 2021

 The new Bernabu and his billionaire American partner: Legends |  LaLiga Santander 2021

While the club celebrates today the extraordinary assembly, it works with the American company for the future operation of the enclosure.

The Santiago Bernabu under construction.Javier BarbanchoEM
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Strategic and commercial alliance to continue growing and managing the commercial operation of the most modern stadium. Real Madrid has reached an agreement with the American company Legends to manage part of the resources to be generated by the reform Santiago Bernabu, than to stop being a traditional football stadium to become a multipurpose center open every day of the year with footballers and extra-sports activities, such as events, musical concerts, fairs or congresses.

The club chaired by Florentino Prez He estimates that the new Bernabu will be able to generate annual profits of 200 million euros. To obtain this income, Real Madrid seeks the advice and help of several companies, including Legends, a company with which it already reached an agreement in 2018 for the exploitation of the merchandising and the stadium store. The American company was created in 2008 by the New York Yankees, the baseball giant based in the borough of the Bronx, and the Dallas cowboys, one of the most successful franchises in the American Football League (NFL). Earlier this year, the US fund Sixth Street bought 51 percent of Legends.

This company is specialized in the exploitation of the resources of sports entities, among its clients are also the San antonio spurs of the NBA. And its radius of action has already extended far from the United States. It has signed agreements with clubs from the Premier League (Tottenham, Liverpool or Manchester City), the Italian Calcium (Rome) and with those responsible for the Wimbledon tennis tournament. It has also ensured the management of the sponsorship of the Los Angeles 2028 Olympic and Paralympic Games. In Spain, it has collaborated with the Atltico de Madrid for the management of the Wanda Metropolitano stadium.

When Real Madrid signed its first agreement with Legends, it defined its partner as follows: “Legends is a company with premium experiences in merchandising, sales, collaboration, planning, technology and hospitality, which will further develop the relationship with fans and offer a comprehensive and fluid experience in all physical and online points of sale. “

When the construction of the new Santiago Bernabu is finished, scheduled for the final months of 2022, a new stage in the history of Real Madrid will begin. For the year 2023, the club could present an economic budget of 1,000 million euros, where the main income would come from the extra-sports operation of the modern area of ​​Paseo de La Castellana. To date, one of the main sources of what is supplied in the club comes from the sale of face-to-face products in the store and online around the world, with figures exceeding 300 million euros. The income from the broadcasts of the club’s matches was around 172 million. Ticket sales will exceed 125 million.

All the gear of the club’s numbers will be able to be known today at the Ordinary and Extraordinary Assemblies of the club, chaired by Florentino Prez. Both appointments will be held in person and online at the Real Madrid City basketball hall. The Ordinary General will be held at 9:00 am, in the first call and at 10:00 am, in the second, if necessary, according to the following order of the day: 1: President’s report. 2: Examination and approval, where appropriate, of the Budget Settlement, the Annual Report, the Balance Sheet and the Profit and Loss Account, corresponding to Fiscal Year 2020/2021. 3: Examination and approval, where appropriate, of the Income and Expenses Budget and the Activities Project for Fiscal Year 2021/2022. 4: Proposal of social contributions for the 2022/2023 season. 5: Questions and answers.

The Extraordinary General will be held after the Ordinary Assembly. In it, the authorization to the Board of Directors of the club to “borrow in order to finance works not initially included in the remodeling of the Santiago Bernabu stadium” will be submitted to a vote.

Reference from elmundo