FC Barcelona have received the green light to start the renovation and reconstruction of the Spotify Camp Nou. On Monday the Catalan giants announced that they have secured €1.45 billion in financing with 20 investors. In the statement Barcelona insisted that the finances would be coming from some of the most prestigious financial entities around the world.
Barcelona also revealed that they have secured a favourable payment structure that would see them not pay until the works are complete. To finance the renovation of the stadium, the club will not be leveraging any club assets and have not taken a mortgage on the stadium. Once the stadium is finished, Barcelona will repay the money flexibly and progressively at five, seven, nine, 20 and 24 years.
With the renovation Barcelona hope to generate an additional 247 million euros per season and should help the club in their financial recovery after the COVID-19 pandemic depleted a large part of their finances. Since the pandemic the Spanish giants have struggled financially and that led to several cuts in payments and personnel.
Over the past year Barcelona has been trying to fix their bad financial state and they plan to cut even more finances over the next two seasons. They also need to sell players this summer and cut their wage expenditure to finance the arrival of new players, including the possible and expected return of Lionel Messi.