Barcelona will soon begin their Espai Barca project as they are close to receiving the green light from investors.
The ambitious project to remodel the Camp Nou stadium and build a new sporting campus has seen very little progress since receiving approval in 2021.
However, the €1.5 billion project will finally get underway later this year, as confirmed by the Catalan club in February.
The investors have agreed to pay out €1b while the rest of the cost will be a loan provided by Goldman Sachs.
While Barca dream of building Europe’s most expensive sports facility centre, a new report from The Athletic has shed light on the controversies involved in the project, which could have far-reaching consequences.
The Catalan giants will shift their home venue to Estadi Lluis Companys in Montjuic from next season until they complete the renewal of Camp Nou.
A return to Camp Nou has been mooted for the 2024/25 season, but concerns have emerged it could take longer for the project to be completed.
This could have a significant on the club’s finances, which are already precarious.
Barca president Joan Laporta believes the long-term benefits of the project will compensate, but the problems run much deeper.
Another major concern is the decision to choose the Turkish construction company LIMAK as the main contractor.
The decision met with plenty of criticism, with many people questioning whether LIMAK possess the competency to complete the project.
The Catalans chose LIMAK to deliver the project at a low price and quickly.
However, local companies involved in the bidding process believed it would take significant money and time to complete the project.
Barca have already started demolishing the third tier of Camp Nou as part of the renovation and are planning to make the ground a 105,000-seater stadium.
The ongoing Negreira case could have significant financial implications, including a potential ban from European competitions if they are found guilty.
Considering all the complexities in the project, it will be an enormous task for the Blaugrana to complete Espai Barca.
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