- May 20, 2022
- Posted by: SportsV
- Categories: Featured Articles, Features, Home News, Industry News, News, Press Releases
The Board of Directors of Real Madrid C.F. has ratified an agreement with Sixth Street, an investment firm with extensive experience in sports and infrastructure, and Legends, a premium experiences company for sports and live venue organisations, with the objective of elevating 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, Sixth Street acquires the right to participate in the operation of certain new businesses of the Santiago Bernabéu stadium for twenty years. In addition, Legends will contribute its experience in the operation of large stadiums, attractions and event spaces to optimise the management of the 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.
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 honoured 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.
Sixth Street, which manages over $60bn 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.
The 2022 edition of ALSD International is being hosted at Tottenham Hotspur Stadium this September 19-20, and will focus on optimising revenue through New Builds, Renovations & Service Expansions, with Architecture & Design, Fan Experience, Hospitality & Interiors, Premium Seating, Rebuilding & Recovery, Sales & Service, Sustainability and Technology some of the key pillars.
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 modernising 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.
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.
About Real Madrid
Real Madrid C.F. is a sport institution with 120 years of history, owned by its members. The Spanish La Liga club boasts the most European Cups of both football (13) and basketball (10) and was recognised by FIFA as the Best Club of the twentieth century.
Real Madrid has millions of fans in all corners of the world, with 400 million followers on social networks, and is for the third year in a row the most valuable football club in Europe according to The European Elite 2021 report, prepared by consultancy KPMG.
Real Madrid is the most valuable football brand in the world according to Brand Finance for the third year in a row and achieved the highest record in the Transparency Index of football clubs last season.
More information about Real Madrid is available at www.realmadrid.com, the most visited football club website in the world for the fifth consecutive year, according to Comscore.
About Sixth Street
Sixth Street is a global investment firm with over $60bn in assets under management and committed capital. Sixth Street uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 400 team members including over 180 investment professionals operating around the world. For more information, visit www.sixthstreet.com
Founded in 2008, Legends is a premium experiences company with six divisions operating worldwide – Global Planning, Global Sales, Global Partnerships, Hospitality, Global Merchandise and Global Technology Solutions – offering clients and partners a 360-degree data and analytics fuelled service solution platform to elevate their brand and execute their vision. Currently, Legends works with marquee clients across business verticals including professional sports; collegiate; attractions; entertainment; and conventions and leisure. It is an industry leader in designing, planning and realising exceptional experiences in sports and entertainment. For more information, visit www.Legends.net
Sports Venue Business organises and delivers ALSD International, the leading event for the Premium Seat & Hospitality sector outside of North America, with a focus on optimising revenue through New Builds, Renovations & Service Expansions, on behalf of the ALSD (Association of Luxury Suite Directors)…
…the 2022 event will feature a high-level conference, an exhibition showcasing industry-leading products & services, networking events and a behind-the-scenes tour of Tottenham Hotspur Stadium, sponsored by THFC and Levy UK + Ireland.
#ALSDInternational – Europe’s leading event for the Premium Seat & Sports Hospitality sector
#ALSD – Leading the Premium Seat sector for the last 30 years
#sportsvenuebusiness – The leading platform for sector news, views & developments