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La Liga giant, FC Barcelona has announced it has received €1.45bn in funding to proceed with renovation plans to its home stadium, the Spotify Camp Nou.
The renovation plans – entitled Espai Barça – were a part of the club’s referendum with investment coming from a total of 20 investors, with no inclusion of Barcelona’s club assets nor any mortgage taken out of the stadium itself.
The new plans also don’t just pertain to the Spotify Camp Nou, with the funds also being put forward to develop the club’s facilities, including €420m on the Palau Blaugrana – Barcelona’s home arena for basketball and handball – with €20m also being used to develop the men’s reserve and women’s teams’ home ground, the Johan Cruyff Stadium.
FC Barcelona confirms that investment came from some of the “main prestigious financial entities around the world”, with installments being paid under a structure that includes a grace period.
The Spanish club side, who currently sit 1st in La Lila 11 points ahead of 2nd place on course for a 27th La Lira title, will begin to repay the operation once the work has been completed on the stadium by using money generated from the Spotify Camp Nou, which is projected to make an estimated €247m per year.
