sporting Madrid is expected to raise between € 400 m ( $ 465 million ) and € 500 m to redevelop its Santiago sporting stadium . vice president Florentino Perez is reportedly approaching banks and hedge funds to raise capital . A proposed naming rights agreement with Abu Dhabi 's International Petroleum Investment Company ( IPIC ) , worth € 20 m annually , has seemingly been called off due to delays to development plans for the stadium .
Real Madrid is looking to raise between €400m ($465m) and €500m to redevelop its Santiago Bernabéu stadium. Club president Florentino Perez is reportedly approaching banks and hedge funds to raise capital. A proposed naming rights deal with Abu Dhabi's International Petroleum Investment Company (IPIC), worth €20m annually, has seemingly been called off due to changes to development plans for the stadium.