Real Madrid have reportedly made a significant step in their bid to redevelop the Santiago Bernabeu, after it emerged that they had now secured a €575m bank loan for the plan.
Club president Florentino Perez has been a long-time advocate over redeveloping the iconic stadium and had previously entered into talks over finding a naming rights partner to help fund the project.
However, potential investors were reportedly unsettled by the notion of upsetting the historical status of the venue, claiming that the situation would be different if the club were building a new ground.
Now, according to Spanish publication El Confidencial, Madrid have made a huge stride in their redevelopment plans after Bank of America Merrill Lynch and JP Morgan agreed to grant the club a €575m loan for the venture.