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Friday, February 23, 2024

Clifford, Linklaters advise on Real Madrid strategic agreement with Sixth Street and Legends

Clifford Chance has counselled Real Madrid on reaching a strategic agreement with Sixth Street, advised by Linklaters, and Legends

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The Board of Directors of Real Madrid C.F. at its meeting yesterday ratified an agreement with Sixth Street, an investment firm, and Legends, a premium experiences company for sports and live venue organizations, 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 and knowledge in the operation of large stadiums and leisure centres, allowing for the optimization of the management of the Santiago Bernabeu stadium.

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 our goal of continuing to significantly increase the stadium’s revenues from both sporting and other types of events.

“Truly honoured to have assisted Real Madrid C.F. in this project, another step for Santiago Bernabéu stadium to continue building its iconic history!”, said Luis Alonso, partner at Clifford Chance and head of the Corporate M&A on this important agreement.

Clifford Chance’s team was led by Luis Alonso along with partner Eduardo García and lawyer Jorge Martín Sainz, counsel Pablo Murcia Rabadán, and lawyers Mariana Ceballos Prieto and Max Thierfelder Grifoll.

On the other hand, Linklaters advised Sixth Street on the agreement. The Linklaters team included members from its Madrid, London and Luxembourg offices led by partners Alejandro Ortiz (Corporate) and Julian Davies (Structured Finance), senior associates Jose Buigues (Corporate) and Emma Lance (Structured Finance) and associate Pablo de Rabassa (Corporate).

Alejandro Ortiz and Julian Davies

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