Real Madrid sign deal worth $380m for Santiago Bernabeu management

MADRID: Real Madrid have signed a stadium management deal for the Santiago Bernabeu worth €360 million ($381 million), the club said Thursday.

The agreement was reached with investment firm Sixth Street and “experiences company” Legends, which specializes in organizing sports and other events and is partly owned by Sixth Street.

The deal with the US-based companies comes with Madrid close to signing Paris Saint-Germain forward Kylian Mbappe, who would arrive as a free agent but command a club-record salary. One of soccer’s top stars, the 23-year-old Mbappe’s contract with PSG expires at the end of this season.

Real Madrid said the money from the deal can be invested in “any of the club’s activities.”

Madrid have not signed any top players in the last few transfer windows and currently hold the league’s highest spending limit at €739 million ($783 million).

The club this season won a record-extending 35th Spanish league title and will be looking to win a record-extending 14th European trophy when it faces Liverpool in the Champions League final on May 28 in Paris.

Sixth Street acquired the right to participate in the operation of certain new businesses of the Bernabeu for 20 years, Madrid said. The exact stake the company will have was not immediately disclosed by the club.

Legends, meanwhile, “will contribute its experience and knowledge in the operation of large stadiums and leisure centers, allowing for the optimization of the management” of the stadium.

“This alliance with Sixth Street and Legends, world leaders in their respective disciplines, will be fundamental in providing unique experiences in a stadium where multiple events can be hosted throughout the year,” Madrid said in a statement. “This