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Barcelona reach sponsorship agreement to fund Camp Nou renovation – report

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Photo by Eric Alonso/Getty Images

Ever since the appointment of Joan Laporta, Barcelona have constantly been in touch with financial organisations to not only steer them out of economic trouble but also finance their sporting projects.

According to Gerard Romero, Barcelona have recently struck a deal with banking giants Goldman Sachs and JP Morgan for financing the Espai Barça project.

Barça have been involved with these banking organisations in the past for funding and loans, and have an excellent relationship with the two entities.

As per the report, Barça have now agreed a financing of €1.5 billion for this project. The club will likely have to pay an interest of 5.5 percent, which is considered to be quite positive from the club’s perspective.

Barcelona had found difficulties in reaching an agreement due to several factors including the ongoing Russian-Ukraine war, along with the global banking situation, with banks such as Credit Suisse, Silicon Valley Bank, among others collapsing since the turn of the year.

But with the agreement, Barcelona can now begin the Espai Barça project in September. The club had been sanctioning demolition projects across the stadium over the past year or so and it appears the project is all set to begin.

Barcelona have reserved the right to refinance part of the debt for the first time years while the loan itself, which has no major collateral or even a mortgage, will mature in 25 years.

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