Real Madrid award stadium overhaul contract to FCC

Spanish building and infrastructure company FCC has been awarded a contract to overhaul Real Madrid's Bernabeu stadium, the club said on Wednesday. Majority owned by Mexican Carlos Slim, FCC will begin work immediately and avoid disrupting games, with the project due to be completed by August 2022, the club said in a statement.

The contract is worth around 475 million euros ($532 million), Spanish newspaper Cinco Dias reported. Last month Real Madrid announced it had secured a 575 million euro loan to finance its plans for a "digital stadium of the future."