Real Madrid president Florentino Perez has confirmed that the Spanish Liga football club is in talks over a naming rights deal for its Santiago Bernabeu stadium.
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.
The project is estimated to cost around €400m ($544m) and a naming rights deal has been considered a key part of financing the development.