Real Madrid have reached a €360m (£305m) agreement with Sixth Street that will allow the US-based investment firm to host events at the renovated Santiago Bernabéu stadium.
The Spanish champions said the partnership included Legends, a premium experiences company that caters to sports and live venue organisations. Sixth Street, which has more than $60bn of assets under management, has experience in infrastructure and sports. It has invested a majority stake in Legends.
The agreement, which the club said would allow for multiple events to be hosted at the stadium throughout the year, was ratified at a meeting of Madrid’s board.
“As part of the long-term partnership, Real Madrid will receive approximately €360m to be invested across any of the club’s activities,” Real Madrid said in a statement. “Through this alliance, Sixth Street acquires the right to participate in the operation of certain new businesses of the Santiago Bernabéu stadium for 20 years.
“In addition, Legends will contribute its experience and knowledge in the operation of large stadiums and leisure centres, allowing for the optimisation of the management of the Santiago Bernabéu stadium.”