Real Madrid to get extra $255 million for stadium renovation

FILE PHOTO: Football - Real Madrid v Bayern Munich - UEFA Champions League Semi-Final Second Leg - Estadio Santiago Bernabeu, Madrid, Spain - 11/12 - 25/4/12 General view of the Real Madrid logo on a car Mandatory Credit: Action Images / Lee Smith

MADRID (Reuters) -Spanish soccer club Real Madrid will increase the size of its structured finance deal with JP Morgan and Bank of America by 225 million euros ($255 million) to complete the renovation of its emblematic Santiago Bernabeu stadium, sources familiar with the talks said.

The initial deal agreed in 2019 was worth 575 million euros and allowed the club to start transforming the stadium from a purely soccer venue into a 365-day-a-year event centre and attraction.