Barcelona managed to secure financing of roughly $1.5 billion to update Camp Nou over the next couple of years. Even though developments to the historic stadium are already underway, funding was always an issue. After all, Barcelona estimates the cost of the renovations to be just shy of $1 billion.
Barcelona released a statement that over 20 investors are part of the stadium financing for Camp Nou’s renovations. That includes globally powerful economic agencies like JP Morgan, Goldman Sachs and JLL. Barcelona will repay the installments in progressively larger sums. Payments are due after five, seven, nine, 20 and 24 years. Therefore, Barcelona will be paying for its stadium and the surrounding improvements as we approach 2050.
Granted, the stadium should be complete before then. While further revelations over the future of the operation are coming soon, Barcelona did release a plan on the future of the stadium, the centerpiece of the entire operation known as Espai Barca. The club estimates the completion of the stadium in 2026. Barcelona’s construction already removed a portion of the upper tier, which is getting a completed bowl as part of the renovations. The club will soon play away from Camp Nou as the renovations get more active.
The plan remains for the stadium to finance itself, in a way. The club signed a four-year naming rights deal and sponsorship with Spotify for $300 million. Also, the development of luxury suites in the stadium for corporate sponsors will bring in increased funding. At the same time, FCB is developing the surrounding areas of the stadium, and providing a members’ building on site.
Espai Barca is the overall project. The revamp of the area, headlined by the renovated and remastered Camp Nou, is supposed to bring Barcelona back on level terms with other major European clubs. Real Madrid took a similar position, as it continues to develop the Santiago Bernabeu after playing away from its home stadium for over a year.
Even though the project is expensive, Barcelona sees it as a way to recover from its economic disaster of years prior. After sitting billions in debt, the club can make money off increased ticket revenues and the offerings via the hotel, skating rink and stadium merchandise and sales.
PHOTO: IMAGO / Bildbyran
