Coca Cola outbid Microsoft with a €80m-a-year offer for naming rights to Real Madrid’s Bernabeu stadium

Spanish papers El Mundo Deportivo and Sport are both reporting on Thursday that Real Madrid are in negotiations with fizzy pop supergiants Coca Cola over naming rights for their stadium.

Back at the end of 2013, news broke out that Bill Gates’ software goliath Microsoft were in talks with Los Blancos to acquire naming rights to the 85,454-seater stadium.

Microsoft were alleged to have offered €50m-a-year for the asset, however it has now spilled out that Coca Cola are be willing to offer €80m-a-year to Florentino Perez to get the sponsorship deal.

Real Madrid are looking to raise the capital in order to execute much needed refurbishment on the ground, which was first opened in 1947. The cost of the building work is estimated at €450 million.

We wait to see if anything transpires.