Real Madrid showed off finalised plans for a Santiago Bernabeu facelift that president Florentino Perez believes will make it the "best stadium in the world".
Madrid has long been expected to refurbish their historic home, with plans initially beginning in 2009.
On Tuesday, Perez delivered a presentation that showcased the approved plans and a final design, which will bring the 72-year-old stadium up to the standard of modern arenas.
The Bernabeu was previously renovated in 1982 and 2001, but this looks set to be the most ambitious project, as it will involve a complete remodelling of the outside and see a retractable roof installed.
There will also be a 360-degree screen that runs round the entire internal rim of the roof, an interactive museum, shops and galleries that offer both views of the pitch and the stadium's surrounding areas.
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Perez believes it will set a new benchmark for stadia.
"Today [Tuesday] begins the countdown to the beginning of an architectural innovation in our stadium," Perez said in his speech.
"It is one of the great projects of the future for the club and the city. We appreciate the presence of the mayor and representatives of the council. Thank you for helping us in our challenge.
"Since we [Perez and the board] arrived at the club, we took on the responsibility of two challenges: the reform of the stadium and the creation of the Ciudad Deportiva de Valdebebas [Madrid's training base].
"Since our mandate, €500million has been invested in it, in improving facilities, so that partners and fans can feel proud of our heritage and facilities, but Real Madrid is what it is for our values.
"We are bound to excellence, it is time to transform the stadium. Our future necessarily involves a new benchmark Bernabeu, the best stadium in the world; avant-garde, comfortable, secure, with cutting-edge technology, and that is a new important source of income.
"In 2009, we shaped those dreams with a difficult path. In May 2017, the special plan for the reform of the stadium was finally approved, which was final.
"From that moment, we started to develop different licenses and projects. Now, the tender for the work has been carried out.
"Next week we will sign the financing contract and soon the tender will be closed to start the works as soon as possible."
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