Barcelona New Stadium: BARCA debt increasing by the day but still members approve £1.3BILLION Nou Camp renovation: Spanish Football club Barcelona in a referendum on Sunday night approved new financial plans including an additional 1.5 billion euros that will enable the club to renovate its iconic but languishing Camp Nou stadium and its surroundings.
🔵🔴 BARÇA REFERENDUM
This is Espai Barça, approved today by FC Barcelona’s members. Thank you, Culers! pic.twitter.com/uF3xlG5wuG
— FC Barcelona (@FCBarcelona) December 19, 2021
Goldman Sachs, which had agreed to lend 595 million euros to help restructure the club’s debt in August, will finance the stadium revamp under a 35-year plan, including an initial five-year grace period.
The plan won 87.8% backing from 48,623 participants, some 44.2% of the club’s total members.
🔵🔴 BARÇA REFERENDUM
First online vote in our history, with over 48,000 votes cast and 44% participation.
Thank you, Culers! pic.twitter.com/THjFfpVbUU
— FC Barcelona (@FCBarcelona) December 19, 2021
Barcelona: European giants Barcelona approve debt plan for Camp Nou stadium renovation
Barcelona: They voted in favour of raising additional funds to a debt plan for financing a wide-ranging project known as ‘Espai Barça’ that was initially planned in 2014.
The club’s debts total 1.35 billion euros, 673 million of which is owed to banks.
The priority is stadium renovations aimed at having the new Camp Nou ready by the end of 2025 with work starting next year to expand capacity to 105,000, making it Europe’s largest stadium.
Barcelona President Joan Laporta said the club expects to generate 200 million euros of additional revenue annually with the new stadium thanks to sponsorship and naming rights, ticketing, catering, VIP boxes, hospitality, meetings and events.
The project will also involve updating the club’s infrastructure such as offices and the Palau Blaugrana, a multi-sports venue that has faced multiple fines for not meeting European competition requirements for basketball games.
The new Palau Blaugrana should be completed in 2026 and the ‘Campus Barça’ offices and hotel by 2027.
Barcelona are not the only Spanish giants who have plans to renovate their iconic stadium, their fierce rivals Real Madrid have already started the renovation of their historic Santiago Bernabeu stadium and the renovation is expected to be completed around November of next year.
Barcelona: European giants Barcelona approve debt plan for Camp Nou stadium renovation
For more sports news and updates, follow us at Insidesport.IN
