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FLORENTINO PEREZ'S MEGA DEAL: SELLING BERNABEU PROFITS STAKE FOR HUGE €360M

Real Madrid president Florentino Perez plans a major financial overhaul, creating a new commercial entity to sell a 10% stake. The move aims to raise €500m-€1bn for the club while protecting its member-owned model and managing Bernabeu renovation debt.

Florentino Perez's Mega Deal: Selling Bernabeu Profits Stake For Huge €360M
Florentino's Strategy: Selling Bernabeu’s Future Profit Stream For Club Growth - Credit: AFP via Getty Images

After obtaining €360 million from Bernabeu-related income, Florentino Perez has taken steps to reorganise Real Madrid's financial future and is getting ready to sell a 10% stake through a recently established commercial firm. The idea will "guard us as an institution," the president told club members, and it will enable Madrid to raise money without turning into a public limited sports company.

Perez needs to raise between €500 million and €1 billion.


El Periodico claims that Madrid president Perez has started one of the biggest corporate overhauls in the club's recent history by outlining plans to raise new capital by selling about 10% of a newly established business entity. The move comes after the club's previous agreement, which was generally described as Madrid's first "lever," in which they sold Sixth Street and Legends 20% of future Santiago Bernabeu profits for €360 million (£317 million/$417 million).

Perez gave Real Madrid's members a full explanation of the new plan, emphasising the necessity of updating the club's organisational structure while preserving the customary member-owned model. "Our club needs an organisational structure that protects us as an institution and also protects all of us as owners of Real Madrid," he spoke directly to the members. To do this, I certify that we will present to this Assembly a proposal for the club's corporate reorganisation that ensures our members are the real owners of our club and its financial resources, safeguards our future, and shields us from dangers.

These comments underscore the president's attempt to maintain the club's strongly safeguarded status as a non-SAD (Sociedad Anonima Deportiva, a specific type of public limited corporation related to sports) athletic organisation while seeking fresh investment. Perez has long admired Germany's 50+1 model, but Spanish laws present considerable hurdles to its adoption. Lacking a legal avenue to convert Real Madrid into a hybrid like Bayern Munich, the club is instead looking into a framework of subsidiaries that would allow for investment without compromising sporting governance.

Perez relies on consultants
Real Madrid's financial consultants, including Anas Laghrari, Key Capital Partners, and Clifford Chance, have reportedly advocated for a strategy similar to what was established with Real Madrid Estadio SL in 2021, which currently manages various stadium-related activities. With the creation of a crucial commercial entity that investors can engage with, which does not interfere with the club's governing bodies, Perez is now anticipated to replicate this approach.

This plan prevents Real Madrid from evolving into a public limited sports enterprise, which would reduce the members' enduring influence. Instead of directly selling the club, shareholders would acquire shares in a firm that manages commercial functions such as marketing rights, stadium operations, events, and sponsorships. The members would continue to fully own the team, academy, coaching staff, and athletic decisions.

In his internal assembly address, Perez reiterated his insistence on the club's member-driven identity. According to the source, the club needs a fresh round of cash in order to stabilise its financial trajectory, as the amount spent on the renovated Bernabeu has increased from the initial €575 million plan to €1.347 billion.


Madrid is forced to make constrained investments due to growing stadium debt.


With every development update, Madrid's financial condition has gotten more difficult. The stadium's outstanding loan debt was €1.132 billion as of June 30, 2025. The retractable pitch (€225 million), the war in Ukraine, inflation, and better concert acoustics have all added to the cost, which has now skyrocketed to €1.347 billion. The modernised Bernabeu has enormous short-term pressure despite its enormous commercial potential.

Additionally, this new approach more closely resembles Barcelona's "levers" for avoiding bankruptcy. Barca established organisations like the Barca Innovation Hub, Barca Studios, and Barca Licensing Merchandising. Perez will go a similar route, but with more robust protections. Any shares that are issued in the new business will be given to current club members immediately and without fee; they will serve more as membership rights than as exchangeable financial assets.

Importantly, Real Madrid is anticipated to retain complete majority ownership of the commercial business established under this arrangement, guaranteeing that members will continue to have the last say in decisions.

According to earlier reports, the club is also considering a partial demerger between its commercial and athletic operations, which may be a step toward a more formal hybrid governance arrangement. Minority shares in the commercial arm would be owned by investors, but the athletic division would continue unaltered, preserving the values Perez has promoted for more than 20 years.

In addition to raising money, this arrangement aims to shield Real Madrid against future market-driven, legal, or political weaknesses.

Legal verifications and a long-range investment plan


The extraordinary assembly, where socios will vote on Perez's reform proposal, is the next stage. The legal and tax structure is presently being prepared by advisors to guarantee adherence to Spanish sports law, which forbids profit distribution and mandates that all commercial gain be reinvested for sporting purposes.

Bernebeu will create the new subsidiary, specify the commercial assets it owns, and start talks with investors who have already indicated their willingness to contribute funds if the proposal is accepted. Instead of short-term financial corporations, the club should prioritise strategic partners with long-term interest in international sports endeavours.

As state-backed teams and international investor groups increasingly control the football industry's economic environment, Madrid is attempting to future-proof its financial model with this move.

WHY AC MILAN ARE TURNING TO REAL MADRID’S BACKUP ANDRIY LUNIN TO REPLACE MIKE MAIGNAN

AC Milan is preparing a €15M bid for Andriy Lunin. Discover why the Real Madrid keeper is now the favourite to take over at San Siro.

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Is Andriy Lunin The Solution To Milan

AC Milan might go after Andriy Lunin from Real Madrid this summer, according to Defensa Central. Apparently, Milan is having trouble getting Mike Maignan to sign a new contract.

So, Lunin is high on their list as a possible replacement. He did sign a deal to stay with Real Madrid until 2030, but Milan is still watching him while things with Maignan are up in the air.

Reportedly, Milan gave Maignan a final offer of €7 million per season, but he's not sure about it. Because of this, the club is now scouting for other options.

If Maignan leaves, Milan's bosses plan to offer between €10 million and €15 million for Lunin. They think that's a fair price for a keeper with his experience.

Real Madrid usually doesn't do winter transfers. The club has already said they won't sell anyone in January, except for loaning Endrick to Lyon. So, they won't even think about a deal for Lunin until the season is over.

Lunin turned down offers from Turkish clubs last summer to compete for his spot at Real Madrid. The chance to start every week at Milan could change his mind. At 26, he's currently Courtois' backup. A move in 2026 could give him the playing time he wants. Manchester United was also interested in Lunin last summer, so there'll be plenty of teams after him.

Why Real Madrid Should Ask for More or Keep Lunin

Lunin showed what he's capable of when he filled in for Courtois. He has the skills to play at the highest level. He saved Real Madrid many times, including in important Champions League games. Because of his input, his value has increased.

The rumoured price of €10 million to €15 million seems too low. Lunin was key to Real Madrid's defence for most of the 2023/24 season. Real Madrid should ask for way more if they decide to sell. If not, they should keep him as a backup in case Courtois gets hurt again.

Selling him for that little would be a mistake. It’s almost impossible to find another backup as good as him for that price these days. It's hard to keep a keeper who wants to be the number one, but Xabi Alonso thinks having a deep squad is very important.

Real Madrid needs to think about the money versus the risk on the field. Letting a talent like Lunin go for cheap would be a bad move. Madrid should keep him unless Milan makes a much better offer. Having two top-notch goalkeepers creates a sense of security that money can't often buy.

MARKET REPORT: WHY CHELSEA IS SUDDENLY THE FAVORITE TO RESIGN ANTONIO RüDIGER

Antonio Rüdiger is considering a shock return to Chelsea as Real Madrid pause contract talks. Read why Xabi Alonso is hesitant.

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Chelsea to Explore a Free Transfer for Antonio Rüdiger

Word on the street is that Antonio Rudiger might head back to Chelsea. The Real Madrid player is thinking about coming back to the Premier League. His deal with Real Madrid runs out in 2026, and he hasn't agreed to a new one yet. There's talk he might leave next summer and maybe even team up with Cristiano Ronaldo in Saudi Arabia.

Contract Talks On Hold

Back in November, Marca said that Rudiger and Real Madrid started talking about a new contract, but those talks are on pause now. His current contract is up at the end of the season. They started talking months ago, threw some numbers around, and both sides seemed to want a deal.

But they stopped talking after Rudiger hurt his muscle in September. They decided it wasn't right to make a deal while he was getting better.

Back to Chelsea?

Rudiger played for Chelsea for five years, winning a Champions League title, before moving to Real Madrid in 2022. Now, he might go back to Chelsea. There are rumours that Chelsea wants him back next summer, according to Diario AS.

Also, Paris Saint-Germain is interested, and Galatasaray is watching what's happening with him in Madrid.

Besides Europe, he's also wanted in Saudi Arabia. Al-Nassr and Al-Hilal are thinking about trying to get him next year.

What Alonso Thinks

BILD said in October that Xabi Alonso, the Madrid boss, isn't totally sold on Rudiger. He thinks Rudiger has been getting injured too much and hasn't been playing consistently. Also, Dean Huijsen, who joined in the summer, has been playing great and has already won a starting spot. Huijsen and Eder Militao have been a solid pair in the back, but Militao got hurt recently.

Madrid Might Not Sign Two Defenders

Even with Rudiger's future up in the air, AS says that Madrid isn't looking to sign two defenders anymore. They were looking at Ibrahima Konate from Liverpool and Dayot Upamecano from Bayern Munich. Both of those guys might leave their clubs since they're in the last six months of their contracts.

There were reports that Real Madrid wasn't interested in Konate because he hadn't been playing well lately. They might still move next summer, but it probably won't be to Real Madrid.

Alonso's team plays Real Betis at home on January 4 after the winter break.

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