The remodelling has been a priority for a club that is already beginning to reap the rewards, even though the work has not yet been completed.

Real Madrid announced a strategic agreement with the investment firm Sixth Street and the company Legends, which specialises in stadium management and premium experiences at major events, “with the objective of elevating the Santiago Bernabeu Stadium as a unique venue and a worldwide benchmark for leisure and entertainment."

In a deal that was ratified by its board of directors on Wednesday, the club made official an agreement that will bring in approximately 360 million euros in revenue, the club announced in a statement.

Real Madrid reports that with the sealed alliance, the Sixth Street company “acquires the right to participate in the operation of certain new businesses at the Santiago Bernabeu stadium for twenty years.”

Meanwhile, Legends “will contribute its experience and knowledge in the operation of large stadiums and leisure centers, allowing for the optimization of the management of the Santiago Bernabeu stadium,” a fact that the club says marks “a turning point in the history of Real Madrid.”

Real Madrid president Florentino Perez’s objective with the new alliance is to “significantly increase the stadium’s revenues from both sporting and other types of events.” Its two new partners, world leaders in their activities, will provide “unique experiences in a stadium where multiple events can be organised throughout the year."