April 25 – Spanish giants FC Barcelona have completed a €1.45 billion financing deal that will allow the club to renovate their Camp Nou Stadium.
On Monday, the club released a statement that more than 20 investors are part of the stadium financing for the stadium’s renovations.
Financiers include JP Morgan, Goldman Sachs and JLL. Barcelona will repay the instalments in progressively larger sums. Payments are due after five, seven, nine, 20 and 24 years with a grace period. In this scenario, Barcelona will repay their debt six years earlier after initially agreeing a 35-year deal that was approved by the club membership.
“The club will start to repay the operation once work has been completed on the stadium, using income generated by the Spotify Camp Nou, which is forecast to be around €247 million,” said Barcelona said in a statement.
The largest football stadium in Europe, Camp Nou has a capacity of 99,354, but FC Barcelona have long been frustrated by the dated structure of the stadium.
Through the renovation of the stadium as well as the surrounding area, the club hopes to provide a better matchday experience for fans and generate more revenue with sponsorship and naming rights, ticketing, catering, VIP boxes, hospitality, meetings and events, which will help Barcelona navigate their financial crisis.
Contact the writer of this story at moc.l1715000763labto1715000763ofdlr1715000763owedi1715000763sni@i1715000763tnuk.1715000763ardni1715000763mas1715000763