The Ciudad Real Madrid (Real Madrid City) is the name given to Real Madrid's training facilities located outside Madrid in Valdebebas near Barajas airport. It replaces the old Ciudad Deportiva (Spanish: Sports City), which until 2003 was the training ground of the club. The sale of Ciudad Deportiva, under the auspices of Real Madrid president Florentino Pérez, led to Real earning approximately € 480 million.