The Astronomical Amount Real Madrid Has Spent on the New Santiago Bernabéu
A massive investment that keeps growing. The new Bernabéu is almost finished, but its final cost has reached unimaginable heights. The most expensive stadium makeover in football?
A renovation with no brakes
Real Madrid has raised the total cost of the Santiago Bernabéu renovation to €1.347 billion, according to the club’s annual financial preview released Thursday. Just this past season, an additional €184 million was spent on the stadium — and although the end is in sight, the bill continues to rise.
The remaining work — scheduled to be completed during the 2025–26 season — includes improvements to soundproofing for concerts and finishing touches in hospitality areas. What began as an ambitious revamp has now become one of the most expensive stadium transformations in football history.
A venue built for more than football
Madrid’s vision goes beyond sport — it’s a commercial powerhouse in the making. With VIP seating, stadium tours, cultural events, and the upcoming NFL showdown between the Miami Dolphins and Washington Commanders on November 16, the new Bernabéu is set to become a global entertainment hub.
The strategy is clear: turn the Bernabéu into a money-making machine year-round.
Double the original budget
Back in 2018, club members approved an initial loan of €575 million. But rising costs and unforeseen projects — such as the retractable pitch storage system — led to two more loans: €225 million in 2021 and €370 million in 2023.
So far, €38 million has been repaid, leaving €1.132 billion in outstanding principal. A jaw-dropping sum… for a stadium meant to redefine the modern sports experience.
