FC Barcelona has the green light for its $1.6 billion Espai Barça project — highlighted by a massive renovation to its Camp Nou stadium.
The legendary Spanish club’s board of directors officially agreed to financing with 20 investors for the project — as well as confirmed reports from earlier this month that it will be able to repay all construction-related debts by 2047.
Barça plans to pay in installments at five, seven, nine, 20, and 24 years, a plan that will include a flexible structure and grace period. The club also confirmed it didn’t use any team assets as a guarantee or take out a mortgage on the stadium.
The club will use revenue generated from the renovated stadium and hosting games again to repay the debt — estimated by the team to be $271 million annually.
Barcelona has counted several notable financial institutions among its partners during the financing process, including Goldman Sachs, JP Morgan, JLL, Pérez-Llorca, DLA Piper, Key Capital Partners, Legends, and IPG 360.
In addition to the Camp Nou revamp, Espai Barça will build up the team’s facilities and surrounding infrastructure in the Les Corts neighborhood of Barcelona.
The construction on Camp Nou has been a long time coming, as the stadium’s poor condition has reportedly incurred fines for failing to meet European competition standards.
