Real Madrid has made a significant appointment for the new Santiago Bernabeu Stadium, with their former director of sponsorship, retail and licensing, Alex Wicks, taking on the role of CEO. Wicks, an English-born executive, joined Madrid in 2019 after working as head of the partnership department at Arsenal. This move sees him replace Santiago López-Vilas, who has been the stadium’s CEO for over two years and will now assume a different position within the club’s organizational structure.
However, this is not the only change expected at Real Madrid in the coming months within their business area. The club is looking to make further alterations as they continue to evolve and improve their operations. López-Vilas has been instrumental in overseeing the stadium’s operations during its construction phase.
The new Santiago Bernabeu Stadium has come at a significant cost, amounting to 1.17 billion euros excluding interest. When interest is factored in, the total cost exceeds 1.8 billion euros. Despite the substantial investment, the project has faced challenges, particularly with regards to its impact on the surrounding neighborhood. Local residents have voiced their concerns and protested against the works, specifically requesting that large-scale concerts not be organized at the stadium.
In addition to managing these issues and ensuring smooth operations, López-Vilas has also been involved in negotiating various agreements for the stadium. One notable achievement was securing the landing of an NFL game at the Santiago Bernabeu. Moreover, López-Vilas coordinated with Legends, a North American company in collaboration with the Sixth Street fund. In 2022, Legends and Sixth Street signed an agreement with Real Madrid, paying them 360 million euros to attract new events to the stadium. In return, Legends will receive 30% of the revenue from these events over the next 20 years.
These developments highlight Real Madrid’s commitment to transforming their facilities and maximizing their revenue streams. The appointment of Alex Wicks as the CEO of the new Santiago Bernabeu Stadium demonstrates the club’s desire to bring in fresh perspectives and expertise to drive further success. With ongoing changes expected within the business area, Real Madrid is positioning itself to remain at the forefront of the sports industry, both on and off the field.