Despite Forbes’ throne, the Bernabeu’s debts are pushing Real to sell him

Real Madrid is considering a radical overhaul of its historic institutional model and opening the door to a massive workforce reduction plan despite topping Forbes magazine’s list of the world’s most valuable clubs by value and revenue.

A source inside the club revealed that the current financial situation, which he described as “worrying”, is mainly due to the inflated cost of the Santiago Bernabeu stadium renovation project, which has increased from €500 million when the project started to around €1.17 billion now.

According to internal estimates, according to Spanish newspaper Mundo Deportivo, Merengue will lose about 300 million euros in expected revenue this year due to noise and licensing issues preventing the stadium from being used for concerts and major events.

The file of the new institutional model was one of the most popular axes of the last pre-election campaign, which ended with the re-election of Florentino Perez as the president of the club. Despite Perez’s repeated emphasis on the club’s financial strength, citing a Forbes report, the numbers show an urgent need for fresh liquidity.

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In this context, former candidate Enrique Riquelme pointed to the club’s high structural costs, saying: “There are very high salaries for managers and unsportsmanlike salary costs. We are talking about dozens of non-sports workers who earn more than one million euros a year.

The administration of Real Madrid is currently considering the implementation of an employment reduction (ERE) program with the aim of simplifying the administrative structure, a plan that was proposed before the elections.

This trend comes alongside the exploration of the option of partial opening of the club’s capital, for the first time in its history. With Real Madrid worth an estimated €10 billion in total, the sale of just 5% of its shares would immediately provide an estimated €500 million in liquidity, which officials see as a necessary boost to fix the financial situation and finance the rest of the Bernabeu project.