Mundo Deportivo: Barcelona Plans to Raise Another €300 Million in Financing for Camp Nou Renovation

Among the agenda items prepared by Barcelona's board of directors for the Ordinary Representative Assembly on the 19th, one of the most important is item four, at which the club will request members' approval to increase the financing limit for the Espai Barça project.

As early as April 2023, Barcelona's board had finalized the financing structure for a €1.5 billion loan to advance these projects. At that time, the board reached an arrangement with nearly 20 international funds through coordination by Goldman Sachs and JPMorgan. Like almost all projects, costs have risen as the renovation of Spotify Camp Nou nears completion, so the board has had to increase the loan amount.

The materials provided by the club to members before the Representative Assembly only mention Spotify Camp Nou and do not refer to the new Camp Nou sports hall. They clearly state that the club will request an increase of up to €300 million in the loan limit, with the operation also to be arranged by Goldman Sachs together with long-term institutional investors.

The board will also ask the Representative Assembly to approve a new issuance of €210 million in bonds. Half of this amount, €105 million, was already issued in July this year. The club plans to complete the second issuance in October or November. These bonds will continue to have priority repayment rights over broadcasting revenue. The club explained that the reason for choosing bond issuance is that the timing of payments for Espai Barça-related financial costs does not align with the completion of the stadium and its full operation at 100%, which would affect cash flow.