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Real Madrid president Florentino Perez has confirmed that the club is in talks over a naming rights deal for its Santiago Bernabeu stadium as it closes in on a decision over the redevelopment strategy for its famous home.

Real Madrid president Florentino Perez has confirmed that the club is in talks over a naming rights deal for its Santiago Bernabeu stadium as it closes in on a decision over the redevelopment strategy for its famous home.

Speaking to Spanish television programme Punto Pelota, Perez said that the club’s plan for the redevelopment of the Bernabeu would be revealed by the end of the month, adding that a sponsorship deal would form part of the masterplan. Perez said: “We want to award the project later this month. There are four candidates for the improvements, and if they hurry up then we’ll see if by the summer we can start work on what will be something very emblematic for the 21st century Bernabeu.” He added: “We are working on a sponsor. We are on with it. At best the stadium will have a name added to it if we can find one.”

The 80,300-seat Bernabeu has undergone a number of renovations since it opened in 1947 and initial proposals for a new redevelopment were first revealed in September 2011. Perez oversaw a significant redevelopment of the stadium during his first spell in power between 2001 and 2006. Speaking back in 2011, Perez stated his determination to deliver the best stadium in the world, adding that it would serve as a “legacy to future generations of Madridistas”.

The project is estimated to cost around Eur400 million and a naming rights deal has been considered a key part of financing the development. Emirates has already been linked to a naming rights contract. Real in May finalised a new five-year partnership with the airline which took effect from the 2013-14 season and is reportedly worth a guaranteed figure of Eur25 million per year, rising to Eur30 million depending on sporting results.

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