River announce landmark $100m funding deal for Monumental works | OneFootball

River Plate announced an international financing agreement for up to $100,000,000, aimed at the expansion and roofing of the Monumental, a project announced this past January 27, which seeks to increase the stadium’s capacity to 101,000 spectators. The loan was agreed upon with the Inter-American Development Bank and the Development Bank of Latin America and the Caribbean, and includes a ten-year repayment term, which will allow the club to begin repaying it with the revenue generated by the completed works.

Through a statement published on its social media and official website, River shared details about this historic agreement for a non-profit association. Additionally, they explained that “the loan, together with a portion of the concert contract, naming rights income, and the club’s own resources generated by the renovation, will finance the total cost of the project, which will also include the development of social, educational, and sports infrastructure.”

“The loan has been structured together with BID Invest—the private sector financing arm of the Inter-American Development Bank—and the Development Bank of Latin America and the Caribbean (CAF), two of the region’s main multilateral credit organizations,” they added.

Furthermore, they detailed the payment method and terms: “The financing includes a total term of 10 years, with a three-year grace period, allowing the Club to begin repaying the loan once the project starts generating the expected resources. In this sense, the repayment scheme is based on the incremental revenue generated by the Stadium’s expansion—both through ticketing and new commercial agreements related to the increased capacity and infrastructure improvements—as well as the concert contract and naming rights.”

In the rest of the statement, River explains the process of securing the loan, which involved several meetings, thorough analysis, and was “the result of months of work.” They also revealed that the stadium’s roofing project will be carried out by Schlaich Bergermann Partner (SBP), “the world-leading German company in roof engineering for large stadiums and responsible for iconic projects such as the Riyadh Air Metropolitano, Tottenham Hotspur Stadium, Allianz Arena, Maracanã Stadium, and Santiago Bernabéu.”

After explaining more technical details about the works, they closed the statement with the following message: “This achievement not only guarantees the progress of a strategic project for institutional growth, but also positions River Plate as a benchmark in management, transparency, and access to international financing within sports.”

What the River Plate Works Will Be Like to Bring the Monumental to 101,000 Spectators

In a video published on the club’s official social media on January 27, President Stefano Di Carlo described step by step the process that will make the Monumental one of the largest stadiums in the world: “It’s about a perimeter structure of columns that will support at height a 360-degree stand that will include 16,000 new seats, seats that will be entirely red and white to form a large 360-degree flag at height. This structure will allow the stadium’s roof to cover almost all spectators.”

He also confirmed that

. Along those lines, he confirmed that River will not lose its home advantage during that period.

The project consists of adding an upper ring that will increase capacity to 101,000 spectators. A roof will be installed to cover all the stands, but not the playing field. Although the management considered the possibility of also covering the pitch, they concluded that it could be detrimental to its maintenance.

What will the process be like? Around 100 columns will be placed around the stadium to support the new structure. Once these supports are in place, construction of the new ring and the subsequent roofing of the stadium will begin.

This article was translated into English by Artificial Intelligence. You can read the original version in 🇪🇸 here.