April 24, (THEWILL) – Barcelona, on Monday, announced they have secured the necessary funding to renovate their iconic Camp Nou stadium and the surrounding areas.
This comes after the club’s initial plans in 2014 encountered several setbacks that led to only a small portion of the work being completed. However, Barca have confirmed that 20 investors have made €1.45 billion available to finance the project, which is set to accelerate quickly at the end of the current season.
The club’s supporters were concerned that the club’s assets might be used as collateral or a mortgage taken out on the stadium. However, the club have reassured fans that this was not the case. Furthermore, the repayments will be made in instalments that will be paid at flexible periods of five, seven, nine, 20, and 24 years. “This operation once again confirms the club’s credibility regarding the Spotify Camp Nou project, the epicentre for Espai Barca,” a statement from the club read.
The renovation project is critical for Barcelona’s continued dominance in the world of sports, economic recovery, and future viability. The club have also emphasised that the project is an essential tool to enable the continuation of the governance model, whereby the over 146,000 Club members are owners. The club promised to hold a press conference in the coming days to provide further details of the operation.
While Barca will play the remainder of the 2022-23 campaign at Camp Nou, it has already been confirmed that the club will move to the Olympic Stadium in Montjuic for the next season, with hopes of returning to Camp Nou in late 2024.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
