Real Madrid president Florentino Perez has confirmed that the club is in talks over a naming rights deal for the redevelopment plans for the Santiago Bernabeu stadium, reports Soccerex Business Daily. Speaking to Spanish television programme Punto Pelota, Perez said: "We want to award the project later this month. There are four candidates for the improvements, and if they hurry up then we'll see if by the summer we can start work on what will be something very emblematic for the 21st century Bernabeu."
He added: "We are working on a sponsor. We are on with it. At best the stadium will have a name added to it if we can find one."
The project is estimated to cost around Eur400 million and a naming rights deal has been considered a key part of financing the development. Emirates has already been linked to a naming rights contract.
Real in May finalised a new five-year partnership with the airline which took effect from the 2013-14 season and is reportedly worth a guaranteed figure of Eur25 million per year, rising to Eur30 million depending on sporting results.
