With a seating capacity of 85, [ 2 ] the stadium has the second-largest seating capacity for a football stadium in Spain. It has been the home stadium of Real Madrid since its completion in Despite successive renovations that had expanded its capacity to 25, seats, the stadium was still insufficient for the club's needs. Faced with this situation, in the spring of , President Antonio Santos Peralba expressed the need to build a new stadium with an initial capacity of 40, spectators, [ 7 ] although the club's financial difficulties raised uncertainties about its realization.
Shortly thereafter, negotiations began to acquire them for a total cost of 3,, pesetas. Additionally, the necessary expropriations for the urbanization of the area, including the future streets Concha Espina and Plaza de los Sagrados Corazones, cost 1,, pesetas.
To choose the design for the new stadium, a Competition of Ideas and Sketches was organized, in which renowned architects participated. The financing of the construction presented significant challenges due to the distrust of members and banking entities. This plan involved the issuance of bonds with mortgage guarantees on the club's properties.
This decision was crucial for the project's realization, and in recognition of his support, one of the streets adjacent to the stadium bears his name. The financing plan was structured into three staggered bond issues: [ 7 ]. All the issues were covered on the day they were released to the Stock Market, thanks to the enthusiasm and confidence of the members, even the most modest ones.
The plan was a complete success and allowed for staggered financing adjusted to the construction needs. However, the project progressed with enthusiasm and dedication. The construction of the new field took place on the grounds of the old field and on the lands of Villa Ulpiana, [ 14 ] which could have disrupted the club's life.
