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

River Plate announced an international financing agreement for up to 100,000,000 dollars, aimed at the expansion and roofing of the Monumental, announced last January 27, which will seek 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 period, allowing the club to start paying it back with the profits generated by the works once they are completed.

Through a statement published on its social media and official website, River provided details about this historic agreement for a non-profit association. They also explained that "the loan, along with part of the contract for concerts, naming rights income, and the 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 in conjunction 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 main multilateral credit organizations in the region," they added.

Furthermore, they detailed the payment method and terms: "The financing includes a total period of 10 years, with a three-year grace period, allowing the Club to start repaying the loan once the project begins to generate the expected resources. In this regard, the repayment scheme is based on the incremental revenues generated by the Stadium's expansion —both through ticketing and new commercial agreements linked to the increased capacity and infrastructure improvements— and the concert and naming rights contract."

In the rest of the statement, River explains the process of securing the loan, which consisted of several meetings, a thorough analysis, and was "the result of months of work." They also revealed that the stadium 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, the Tottenham Hotspur Stadium, the Allianz Arena, the Maracanã Stadium, and the Santiago Bernabéu."

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

How River's works will bring the Monumental to 101,000 spectators

In a video published on the club's official networks last January 27, President Stefano Di Carlo detailed the step-by-step process that will turn the Monumental into one of the largest stadiums in the world: "It is about a perimeter structure of columns that will support at height a 360 stand that will include 16,000 new seats, seats that will be entirely acquired in red and white to form a large 360 flag at height. This structure will allow for the stadium's coverage, covering almost all the spectators."

He also assured that

. In the same vein, he confirmed that River will not lose its home advantage during this period.

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

How will the process be? Around 100 columns will be arranged around the stadium to support the new structure. Once these supports are in place, they will begin constructing the new ring and subsequently roofing the stadium.

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