Real Madrid's Florentino Perez: Bernabeu Redevelopment Will Begin After Season

Real Madrid president Florentino Perez has announced that planned redevelopment of the club's Santiago Bernabeu stadium will begin at the end of the season. 

At an event on Tuesday, Perez said that construction can begin soon as Real look to revamp their 81,000-capacity venue, per ESPN FC's Dermot Corrigan:

Real Madrid shared a video of what the Bernabeu will look like once the renovations have been completed:

Per El Pais' David Alvarez (h/t Corrigan), Perez was granted approval on a €525 million (£451 million) budget for the project at the club's AGM.

The president added that the renovations will be funded by the increased revenue they are expected to generate.

In 2016, Perez said sale of the stadium's naming rights could also finance the project, though that would appear to no longer be the case, as Corrigan observed.

Madrid's mayor, Manuela Carmena, was also in attendance at the event and gave further insight into the spending on the project:

The club's revamp of the Bernabeu comes amid a reported overhaul of the squad this summer.

According to L'Equipe (h/t Adam Newson on Sky Sports), Los Blancos are prepared to spend in excess of £400 million (€466 million) to land Eden Hazard, Kylian Mbappe and Paul Pogba.