Arctos Taps Bernabéu Mastermind to Revolutionize Sports Venues

DALLAS, TX – January 16, 2026 – Private investment firm Arctos has made a significant strategic move by appointing Santiago López-Vilas, the executive who spearheaded the transformation of Real Madrid’s Santiago Bernabéu stadium, as an Operating Partner. The appointment signals a major bet on a new frontier in sports investment: turning stadiums from mere playing fields into year-round, multi-billion-dollar entertainment and real estate hubs.

López-Vilas joins the firm as it deepens its operational involvement with a portfolio of over 25 sports franchises across North American leagues, Formula One, and European soccer. His mandate is to export the revolutionary “Bernabéu Blueprint”—a model of venue modernization and commercialization—to Arctos’s partners, a move that could redefine asset value for teams across the NFL, NBA, MLB, and NHL.

“Santi is one of the most accomplished executives operating at the convergence of sports, entertainment and real estate,” said Doc O’Connor, Managing Partner at Arctos, in a statement. “His leadership in transforming the Bernabéu into a world-class, multi-purpose venue exemplifies the type of operational and strategic expertise we seek to bring to our global partners and portfolio.”

The Bernabéu Blueprint

To understand the magnitude of this hire, one must look at López-Vilas's recent work in Madrid. As CEO of Real Madrid Estadio, he oversaw a project that did more than just renovate a stadium; it reimagined its entire economic and cultural purpose. The redeveloped Santiago Bernabéu is a case study in modern venue monetization, directly contributing to Real Madrid becoming the first football club to surpass €1 billion in annual revenue.

Under his leadership, matchday income nearly doubled to approximately €248 million in the 2023-24 season as new facilities opened. More impressively, the venue was engineered for constant activation. Featuring an automated, retractable pitch that can be stored underground in hours, the stadium seamlessly transitions from hosting La Liga matches to sold-out Taylor Swift concerts and even the first-ever NFL regular-season game in Spain. This focus on non-matchday events is projected to generate between $447 million and $491 million annually, a monumental leap from the pre-renovation figure of $168 million.

This transformation into a global entertainment destination has produced staggering financial results. In the first half of the 2024-25 season alone, Real Madrid reported that non-matchday activities generated €43.9 million, nearly accounting for the entire previous season's total in that category. The stadium’s new commercial appeal also fueled a 38.6% increase in marketing income and a 77.5% jump in revenue from its popular stadium tour.

A Strategic Bet on Experiential Real Estate

Arctos, which has built a unique position as the only firm approved to hold equity in teams across all major North American sports leagues, is betting that this blueprint can be replicated. The firm’s strategy has always been to offer more than just capital, embedding operational experts and a proprietary data science platform, Arctos Insights, to help its portfolio franchises grow.

The hiring of López-Vilas is the embodiment of this hands-on approach. His expertise directly applies to the evolving landscape where sports franchises are increasingly viewed as anchors for larger real estate and entertainment developments. The modern sports venue is no longer just a place to watch a game; it is the centerpiece of a “sports-anchored, mixed-use district” designed to attract visitors and generate revenue 365 days a year.

This trend is visible across Arctos's portfolio. The firm supported the Utah Jazz in acquiring an NHL team and is advising on real estate investments adjacent to their arena in Salt Lake City. With minority stakes in Fenway Sports Group (Boston Red Sox, Liverpool F.C.), Harris Blitzer Sports & Entertainment (Philadelphia 76ers, New Jersey Devils), and Paris Saint-Germain, Arctos has access to a diverse range of teams facing unique venue challenges and opportunities. López-Vilas’s experience in navigating complex, large-scale development, from his time at Real Madrid to senior roles at hospitality REIT Millenium Hotels and developer OHL, provides a proven playbook for maximizing these assets.

Redefining Value in a Competitive Market

The private equity landscape for sports is becoming increasingly crowded. Firms like RedBird Capital, Ares Management, and CVC Capital Partners are all deploying billions into the sector, driving up valuations. In this environment, the ability to generate operational value—rather than relying solely on financial engineering or market appreciation—has become a critical differentiator.

By bringing in a top-tier operator like López-Vilas, Arctos is signaling that its competitive edge lies in its ability to unlock latent value within a franchise's physical assets. This goes beyond just adding more VIP suites. It involves a holistic strategy that integrates technology for a smarter fan experience, develops sustainable infrastructure, and creates new commercial programming that diversifies revenue streams away from a dependency on ticket sales and media rights.

This approach aligns perfectly with the future of sports infrastructure. Globally, over 300 stadiums are expected to undergo major renovations or new builds in 2025. These projects are increasingly focused on creating immersive, tech-forward environments with robust connectivity, augmented reality features, and frictionless commerce—all hallmarks of the Bernabéu project.

A Global Vision for Sports Franchises

López-Vilas’s appointment also equips Arctos with invaluable expertise in international expansion. As North American leagues like the NFL and NBA aggressively push into global markets, his European background and success in turning a Madrid landmark into a global stage are profoundly relevant. The NFL's decision to play a regular-season game in the Bernabéu is a direct testament to the international appeal of a well-executed venue strategy.

For Arctos’s portfolio, which includes stakes in the Buffalo Bills and Golden State Warriors, this global perspective is a strategic asset. López-Vilas can advise on how to tailor venue experiences for international audiences, navigate cross-border real estate development, and leverage a franchise’s brand to build a worldwide following. His experience is a bridge between the mature European sports market and the global ambitions of American leagues.

As he joins the firm, López-Vilas noted his enthusiasm for the firm’s distinct model. “Arctos has built a differentiated approach to partnering with sports organizations by combining long-term capital with deep operational engagement,” he stated. “I am excited to join Arctos’ talented team and contribute my experience across venue transformation, complex real estate development and global event programming, while also working alongside management teams as they reimagine how sports assets create value for fans, partners and communities.”