GMP Architekten Will Lead The $545 Million Renovation Of Real Madrid's Soccer Stadium [Photos]

GMP Architekten, a German architecture firm, is heading the renovation of the home to one of the world's most popular soccer clubs.

Real Madrid's Santiago Bernabeau stadium was built in 1947 and has undergone a number of renovations since then but Real Madrid president Florentino Perez reportedly wants to make the venue "the best in the world," according to the Daily Mail.

"Our commitment is to continue increasing the heritage of our club, thus gain in economic strength, so we can continue to lead in an environment of increasing competition," Perez said. "We believe in a project that will enhance our image, brand and city that we also feel proud of."

The new renovation is expected to cost $545 million and will include an entire new metallic exterior and a retractable roof. The stadium currently holds more than 85,000 spectators but there has not been any reports of additional seating.

The design will create many different external appearances as the sun moves over the stadium, according to Architecture & Design, but the changes are going to be much more than aesthetic. A shopping center, underground parking garage, leisure center and hotel rooms with views of the field will also be part of the design.

None of the projects phases will interfere with games. It is expected to take three years to complete. Work will begin at the conclusion of this soccer season.

von Gerkan, Marg and Partners was founded in 1965 by Meinhard von Gerkan and Volkwin Marg. It has since then partnered with four others, an associate partner in China and expanded into an international company with more than 500 employees. In addition to sports complexes, the company has designed designed small scale homes, hotels, museums, theaters and concert halls, office buildings, commercial centers and hospitals.

For the 2014 FIFA World Cup in Brazil, the company designed stadiums in Brasília and Manaus.

Below are renditions of the new stadium from the structure's Facebook page.