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Barcelona announce €1.45bn deal for Espai Barca project and Spotify Camp Nou redevelopment

Barcelona have announced plans for the Espai Barca project and the redevelopment of Spotify Camp Nou.

The Catalans have secured €1.45 billion in financing with 20 investors.

Barcelona disclosed that the finances would come from some of the most prestigious financial entities around the world.

Instrumental investors include Goldman Sachs, JP Morgan, JLL, Perez-Llorca, DLA Piper, Key Capital Partners, Legends and IPG 360.

The club announced a favourable payment structure that would see them not pay until the works are complete.

They won’t be leveraging any club assets and have not taken a mortgage on the stadium.

Barca will repay the money flexibly and progressively at five, seven, nine, 20 and 24 years.

Barcelona will repay the investors with revenue from the redeveloped Spotify Camp Nou.

They project that the new stadium will generate around €247 million and is a means of economic recovery after COVID-19 depleted their finances.

The La Liga table-toppers have struggled financially since the pandemic, leading to cuts and deferrals.

Barcelona have forced several stars to take salary cuts and deferrals, and they plan more reductions in the coming months. They must also sell players to finance their summer transfer moves.

They are planning for the return of club icon and 2022 World Cup winner Lionel Messi.

Barca believe the Espai Barca project will lead to future financial viability. It will also enable the continuation of the club’s current governance model.

The club’s 146,000 members own the five-time Champions League winners.

A Turkish construction company named Limak will carry out the Spotify Camp Nou work.

Limak claim there will be no need for another redevelopment at the stadium for the next 35 years when they finish.

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