Barcelona in a poll on Sunday night ratified new financial plans including an additional 1.5 billion Euros that will allow the club to restore its iconic but fading Camp Nou stadium and its surroundings.
Goldman Sachs, which had agreed to bestow 595 million Euros to aid restructure the club’s debt in August, will finance the stadium renovation under a 35-year plan, counting an initial five-year grace period.
The plan triumphed 87.8% backing from 48,623 participants, some 44.2% of the club’s total members.
They voted in favour of raising extra funds to a debt plan for financing a wide-ranging project known as ‘Espai Barça’ that was at first planned in 2014.
The club’s debts total 1.35 billion Euros, 673 million of which is owed to banks.
The priority is stadium restorations targeted at having the new Camp Nou all set by the end of 2025 with work commencing next year to expand capacity to 105,000, making it Europe’s largest stadium.
Joan Laporta, Barcelona President stated the club expects to generate 200 million Euros of extra revenue annually with the brand new stadium thanks to sponsorship and naming rights, ticketing, catering, VIP boxes, hospitality, meetings and events.
The project will also include updating the club’s infrastructure such as offices and the Palau Blaugrana, a multi-sports venue.
The new Palau Blaugrana should be finalized in 2026 and the ‘Campus Barça’ offices and hotel by 2027.