Barcelona have finally secured €1.45 billion in funding from investors to the redevelopment of Spotify Camp Nou and the surrounding areas, the club announced on Monday.
Barca had set an initial deadline of March 31 to finalise the funding for the project, but a rise in global interest rates led to some delays in the final stages of the negotiations.
In the end, 20 investors are involved to reach the amount needed for the work, which will see the club’s historic 99,000-seater stadium and the surrounding area completely regenerated.
The redevelopment plan, called ‘Espai Barca’, includes spending on other club facilities such as 420m euros for the Palau Blaugrana and 20m euros for the Johan Cruyff stadium with the club expecting the work on the Camp Nou to be completed by 2026.
In a statement the LaLiga leaders stressed that “club assets were not used as a guarantee and a mortgage was not taken out on the stadium”, following recent reports they would have to make compromises to seal the financing.
“[The money is re-payable] in different instalments to be paid progressively at five, seven, nine, 20 and 24 years, with a flexible structure, including a grace period,” the statement read.
“The club will start to repay the operation once work has been completed on the stadium, using income generated by Camp Nou.”
The Blaugrana also confirmed that Goldman Sachs, JP Morgan, JLL, Perez-Llorca, DLA Piper, Key Capital Partners, Legends and IPG 360 were among the investors.
While Barca will play out the remainder of the 2022-23 campaign at Camp Nou, it had already been confirmed they are to move to the Olympic Stadium in Montjuic for next season and then return to a partially complete Camp Nou in the 2024-25 season.
Barca’s €1.5bn project will see them transform Camp Nou into a 105,000-seater stadium from an initial 99,000-seater stadium.