Spanish football giant, Real Madrid, has announced a 20-year strategic partnership worth €360 million (AU$539 million) with investment firm, Sixth Street, and premium sport experiences company, Legends.
The partnership will see Sixth Street acquire the right to participate in operations of new initiatives at the Santiago Bernabéu, while Legends will optimise the running of the stadium by using their experience and knowledge in operating large stadiums and leisure centres.
Additionally, both companies’ experience will provide a turning point for the club, by creating unique experiences to create additional revenue from both sport and other events.
Commenting on the partnership, Sixth Street co-founder and CEO, Alan Waxman, 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,” he said.
Legends CEO, Shervin Mirhashemi, added: “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,” Mirhashemi said.
The announcement comes after LaLiga partnered with Korean company, TVM Inc, as the official metaverse partner of the league, with the organisation focused on boosting fan engagement and the generation of relevant content.
