Barcelona has finally obtained financing for the renovation of Camp Nou and the neighborhood.
The club first announced restoration plans in 2014, but since then, a number of issues have prevented even a small portion of the work from being completed.
But now that the season is over, the project appears poised to go up fast after Barca announced on Monday that 20 investors have contributed €1.45 billion.
Barca assured concerned fans that “club assets were not used as a guarantee and a mortgage wasn’t taken out on the stadium”, with repayments set to be made in instalments paid at five, seven, nine, 20, and 24 years “with a flexible structure”.
ℹ️ FC Barcelona agrees financing for Espai Barça
— FC Barcelona (@FCBarcelona) April 24, 2023
🔗 All the details: https://t.co/TyUUWwhtz4 pic.twitter.com/7RdUKSU3QT
“This operation once again confirms the club’s credibility regarding the Spotify Camp Nou project, the epicentre for Espai Barca,” a statement added.
“The project is essential when it comes to keeping Barcelona at the forefront of world sport, is one of the foundations for the club’s economic recovery and future viability and is a tool to enable continuation of the governance model, whereby the over 146,000 Club members are its owners.
“In the coming days the club will hold a press conference regarding the details of the operation.”
While Barca will play out the remainder of the 2022-23 campaign at Camp Nou, it had already been confirmed they are to move to the Olympic Stadium in Montjuic for next season.
Barca reportedly hope to be back at Camp Nou in late 2024.