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FC Barcelona’s Spotify Camp Nou is set for a $1.6 billion revamp.
The club is looking to raise the funds from private debt investors and courting investors in the U.S. private placement market, according to Bloomberg. Goldman Sachs Group and JPMorgan Chase are reportedly arranging the sale.
Stadium renovations are part of a broader project called Espai Barça.
Earlier this month, the club signed an agreement with Limak to take charge of the stadium’s construction set to begin in June.
Club president Joan Laporta said Limak was the sole bidding company committed to achieving “the time targets set by the club,” which are returning to the stadium before December 2024 and a completed project before June 2026.
“Every season we are away means a loss of around [$99.3 million] for the club,” he said.
Football Financing
The financing plan includes three tranches of senior notes — around $533.6 million each — maturing in 2032, 2045, and 2052, according to Kroll Bond Rating Agency.
Laporta said that with a financing structure in place and the work of Limak, Barça “will finally have a world-class stadium with the capacity to generate a lot more revenue.”
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