O Barcelona closed a financing plan of 1.45 billion euros (around R$ 8 billion) for the renovation of Camp Nou, which will start on June 1, announced the Catalan club this Monday (24).
In all, 20 investors will inject 1.45 billion euros, “an amount that covers the cost of the works at Espai Barça (name of the Camp Nou renovation project and other infrastructure owned by the culé club)”, informed the Spanish team in an announcement.
“FC Barcelona closed a loan from Espai Barça as planned, guaranteeing the start of the refurbishment work on Spotify Camp Nou and fulfilling the criteria approved in the referendum, with no asset guarantee from the Club or mortgage on the Stadium”, he added.
ℹ️ FC Barcelona agrees financing for Espai Barça
🔗 All the details: https://t.co/TyUUWwhtz4 pic.twitter.com/7RdUKSU3QT
— FC Barcelona (@FCBarcelona) April 24, 2023
On December 19, 2021, 87.8% of member representatives (42,693 out of 48,623 representatives, out of a total of over 146,000 members), gave the green light to President Joan Laporta’s project for the club to start the funding process for a maximum of 1.5 billion euros (BRL 8.3 billion).
The plan included €900 million (R$5 billion) for the renovation of the Camp Nou, €420 million (R$2.3 billion) for the Palau Blaugrana, used by the basketball and handball teams, and €20 million (R$ 111 million) for the Johan Cruyff stadium, where Barcelona B and the women’s soccer team play.
The club negotiated this loan with foreign investors such as Goldman Sachs, JP Morgan or Legends.
“It has different installments of five, seven, nine, 20 and 24 years, and a flexible structure, which has a grace period. The Club will start paying for the operation as soon as the stadium works are completed, with the revenue generated by Spotify Camp Nou, which he expects to be approximately €247 million” (R$1.4 billion), according to Barcelona.
The amount will be increased by interest rates of 5 or 6%, according to the Catalan newspaper Sports world.
According to the specialized press, the club expects the works to be completed in June 2026.
During the renovation period, the Catalan team will play its home games for the 2023-24 season at the Lluís-Companys stadium, in the Catalan capital, and then hopes to be able to return to the Camp Nou, albeit with reduced capacity for the public, for the beginning of 2024-25.
Source: Gazetaesportiva
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