Barcelona announced on Monday that it has completed the financing to undertake renovation works at the Camp Nou stadium from multiple investors worth 1.45 billion euros ($1.6 billion).
The Catalan club assured that its assets were not used as collateral and that it will not be necessary to mortgage the stadium.
A total of 20 investors are participating in the financing of the ‘Espai Barça’ project.
“The financing structure is with some of the main internationally prestigious financial entities,” the club said in a statement.
He added that the financing will have “different tranches at 5, 7, 9, 20 and 24 years” and will have “a flexible structure, which has a grace period.”
It was indicated that they will begin to repay the operation, once the works are completed and with the income generated by the Camp Nou. The capacity of the stadium — the largest in Europe — will increase from 99,300 to 105,000.
Barça said that the renovation of the stadium is “essential” to keep it “in the leadership of world sport, one of the pillars of the economic recovery and the future viability of the club, and an instrument that allows the continuity of the governance model, where the more than 146,000 members and partners are owners”.
The club has suffered financial difficulties in recent years and will play its matches next season at the smaller Estadio Olímpico Lluís Companys in Montjuic. Work has begun so that the stadium meets the needs of the club for its domestic and international commitments.