Real Madrid C.F. is teaming up with Sixth Street and Legends to promote the Santiago Bernabéu Stadium as a unique venue and a worldwide benchmark for leisure and entertainment.
As part of the long-term partnership, Real Madrid will receive approximately €360m to be invested across any of the Club’s activities.
Through this alliance, sports investment firm Sixth Street will acquire the right to participate in the operation of certain new businesses of the Santiago Bernabéu stadium for 20 years.
In addition, Legends will contribute its experience in the operation of large stadiums, attractions and event spaces to optimise the management of the Santiago Bernabeu stadium.
Florentino Perez, president of Real Madrid, said:
The transformation of the Santiago Bernabéu stadium will be a turning point in the history of Real Madrid. This alliance with Sixth Street and Legends, world leaders in their respective disciplines, will be fundamental in providing unique experiences in a stadium where multiple events can be hosted throughout the year.
This agreement strengthens the Club’s goal of continuing to significantly increase the stadium's revenues from both sporting and other types of events.
Sixth Street, which manages over $60 billion in assets, brings extensive investment experience with leading companies in the world of sports and in sectors such as real estate, infrastructure, and consumer, including the San Antonio Spurs basketball team, Airbnb, and Spotify. Alan Waxman, co-founder and CEO of Sixth Street, said:
Real Madrid’s Santiago Bernabéu is hallowed ground in the world of football, and we are honored to be joining this partnership to invest in the innovative, long-term strategic vision that has guided the Club’s consistent success over its storied history.
The flexible, solutions-oriented capital and comprehensive capabilities provided by our team at Sixth Street, combined with the deep expertise Legends offers in venue and sports brand operations, will support Real Madrid in its mission to compete and remain a leader in global sports for many years to come.
Legends was formed in 2008 by affiliates of the New York Yankees and the Dallas Cowboys. Sixth Street invested in a majority stake in Legends in January 2021. Legends provides holistic, data driven revenue solutions for some of the world’s most iconic brands and boasts an expansive client portfolio in sports, entertainment, live events and attractions.
Shervin Mirhashemi, CEO of Legends, said:
We are proud to expand our existing relationship with Real Madrid. “Legends’ operational and sales acumen and experience, across match day and non-match day, combined with the iconic Real Madrid brand and Sixth Street’s flexible capital deployment is a new and innovative approach to modernizing the Bernabéu, one of the world’s greatest sports, entertainment, and cultural venues.
With this long-term management relationship, Legends continues to grow its global footprint, while investing in regional expertise with best-in-class brands worldwide.
PSAM editor John Sheehan caught up with Yves De Cocker, Managing Director of PitchTecConcept, who explains how his company bridges the gap between sports organisations and the technology used in the playing surface industry.
The interview covers:
Yves 20+ years industry leading experience in the evolution of hybrid grass, trends he has noticed and some of the notable projects he has been involved with
The key reasons for Yves launching PitchTecConcept
Common mistakes often made with playing surface management
The steps he offers as a bridge between the industry and the end user
Advice to clubs looking to maximise their event calendars without compromising on the performance of their playing surface