PRESS RELEASE: Strategic partnership between Real Madrid, Sixth Street and Legends
The Board of Directors of Real Madrid C.F. at its meeting yesterday 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 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 in the operation of large stadiums, attractions and event spaces to optimize 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,” according to Florentino Perez, President of Real Madrid. “This agreement strengthens the Club’s goal of continuing to significantly increase the stadium’s revenues from both sporting and other types of events.”
“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,” said Alan Waxman, Co-Founder and CEO of Sixth Street. “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 $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.
“We are proud to expand our existing relationship with Real Madrid,” said Shervin Mirhashemi, CEO of Legends. “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.”
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.