According to reports, Abu Dhabi's International Petroleum Investment Company (IPIC) has purchased the naming rights to Real Madrid's Santiago Bernabéu, reports www.sportspromedia.com/.
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The deal is part of a multi-million-euro revamp of the Spanish soccer giants' 81,000-capacity stadium, which will be funded by selling the venue's naming rights to the club's long-term sponsor.
Plans to upgrade the iconic stadium were given the green light on Wednesday by Madrid's city hall, and will see the installation of a retractable roof, along with the construction of a shopping centre and hotel.
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Source: tribalfootball.com