He Football club Barcelona confirmed on Monday that it has reached an agreement with a total of 20 investors to finalize the financing of Espai Barça, which will amount to a total of 1450 million euros. This amount of money guarantees the start of the renovation works of Spotify Camp Nou and meets the criteria approved in the referendum.
The Barcelona group has confirmed that financing will be in place different deadlines with major international financial institutions with tranches on 5, 7, 9, 20 and 24 years.
Here’s the full statement:
FC Barcelona has closed the financing of the Espai Barça as planned, guaranteeing the start of the Spotify Camp Nou refurbishment works and meeting the criteria approved in the referendum, with no Club equity or stadium mortgage. The Club has secured financing with a total of 20 investors and for a value of 1,450 million euros, an amount that covers the costs of the works on the Espai Barça.
The financing structure is that of some of the most important internationally prestigious financial entities. It has different tranches of 5, 7, 9, 20 and 24 years and a flexible structure with a grace period. The club will start repaying the operation once the stadium works are completed, with the revenue generated by Spotify Camp Nou expected to be around €247 million.
FC Barcelona continues to progress in its strategic plan and in the development of the Espai Barça project, achieving maximum flexibility to find the best proposals in terms of cost and time. Throughout the process, the efforts of the members of the Board of Directors and the Club’s own teams were complemented by reference partners, such as Goldman Sachs, JP Morgan, JLL, Pérez-Lorca, DLA Piper, Key Capital Partners, Legends and IPG 360 , among other things. The aim is to combine the experience and knowledge of the Club’s teams and professionals with the best practices in the various areas related to the Espai Barça project.
This operation once again confirms the club’s credibility in the financial markets with regard to the Camp Nou Spotify project, the epicenter of Espai Barça, an essential project to keep FC Barcelona at the forefront of world sport, one of the pillars of the Club’s economic recovery and future viability, and a tool enabling the continuity of the governance model owned by the Club’s more than 146,000 members.
Source: Goal