Florentino Pérez, president of Real Madrid, claims the four-year refurbishment of the Santiago Bernabeu will make the venue the "best stadium in the world", reports, www.sportspromedia.com/.

Speaking to local reporters, Pérez unveiled computerised images of the redevelopment, which he claims will create new revenue streams to allow the La Liga club "to remain competitive in an increasingly difficult international football setting."

Scheduled to get underway this summer, the project will include a retractable roof, a 360-degree video scoreboard and a surrounding skin of steel bands which will allow images to be illuminated and projected on the exterior surface of the stadium.

In total, the venue will cover 66,000 square metres and also feature leisure and entertainment facilities in an attempt to keep fans at the stadium for longer. The stadium's 81,000 capacity will remain unchanged and Real will be able to continue to play at their home ground while the work is carried out.

"This event is the definitive start of the countdown to launch an authentic architectural innovation in our stadium," said Pérez. "A Santiago Bernabéu stadium that will become a great avant-garde and universal icon. Located in the heart of Madrid, it will be the best stadium in the world. We are facing one of the great projects of the future for Real Madrid and, of course, it will be also for the city of Madrid.

"This great project will become a key piece for the Real Madrid of the future, but also for the city of Madrid. And it will be because the new Santiago Bernabéu stadium, located in the heart of Madrid, will be the best stadium in the world. More modern, more comfortable, safer and designed for entertainment, with new areas of leisure and catering and where the most advanced technology will be key for fans to live new experiences."

Pérez has made no secret of his desire to revamp Real's 72-year-old home ground, and hopes that the redevelopment can generate €150 million a year in additional revenue.