Real Madrid board seeking approval for mammoth new loan to cover Bernabeu redevelopment as costs soar to €1.4 billion

Los Blancos will ask club members for a third loan of €370 million (£322m, $391m) to cover the remaining costs of their renovated stadium.

Club asking for third loan
Have been playing in a half-finished stadium
Official unveiling set for December

WHAT HAPPENED? Madrid will ask its members to pay a third loan to complete the ambitious renovation of the Santiago Bernabeu, according to The Athletic. Members have twice approved low-interest loans to complete the project, with the costs now expected to total €1.4 billion (£1.2bn/$1.5bn). They are expected to approve the request, according to the report.

THE BIGGER PICTURE: The new version of the famous ground was set to open by the end of 2022, but financial issues brought about by the Covid-19 pandemic and Russia's invasion of Ukraine forced Los Blancos to reconsider a date. They have been playing in a reduced-capacity version of the ground for nearly two years.

IN THREE PHOTOS:

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WHAT NEXT? Madrid will host Rayo Vallecano this weekend and hope to play in a full-capacity version of their stadium by December.