No Notifications to show at the moment. Check back later!
FC Barcelona is working with Goldman Sachs to obtain the best possible financing option to bring the Espai Barça project to fruition. It will transform all FC Barcelona's installations in the Les Corts neighbourhood, with the comprehensive remodelling of Camp Nou, the building of a new Palau Blaugrana, a Campus Barça, urban planning around the Stadium, and the construction of the already completed Estadí Johan Cruyff. The project has aroused the interest of a number of different international investment firms, some of which travelled to Barcelona for series of information sessions to obtain more details about the project and the business plan, and to visit the Club's different facilities.
The Club organised different meetings involving some of the most prestigious companies, investment groups, and ratings agencies in the sector over three days. These investors and agencies approached via Goldman Sachs, the world's leading global investment banking, securities and investment management firm, who acted as consultant for the financing of more than 45 stadiums around the world, costing over 20 billion US dollars, and who are now acting as the Club's intermediary.
President Joan Laporta, some Board of Directors' members, and a number of executives were involved in these information sessions. The Club explained the importance of the Espai Barça strategic project for the Club's future to the investors, along with the mandate's 2021-26 Strategic Plan, the commercial strategy, and the sustainable and viable business plan that will finance itself using income generated by the project. The investment groups' representatives also visited different installations, such as Camp Nou, the Museum, the Store, the Palau Blaugrana, La Masia, the Ciutat Esportiva, and the Medical Centre, and they were also in the presidential box to see the home game against Celta de Vigo on Tuesday evening.
These sessions help to move the project forward regarding the financing process with the aim of agreeing the final figure and cost in the coming months.
Let's not forget that on December 19, the Board of Directors received overwhelming support for the financing of Espai Barça during the first ever virtual referendum, with the participation of 48,623 members with voting rights. 42,693 members - 87.8% of the votes cast - ratified the decision taken by the delegate members during the Ordinary Assembly in October. The Board were given the green light to negotiate the financing operation for up to 1.5 billion euro with Goldman Sachs, via international operators who are experts in financing stadiums and sporting facilities. The agreed terms were that the investment had to be returned within 35 years, with a 5 year grace period, as no payments would be due until the Stadium work is finished and income starts to be generated, because Espai Barça will be financed with the increased earnings generated by the new project. It is estimated that Espai Barça will generate 200 million euro a year in income through sponsorship and title rights (the agreement also ratified with Spotify), ticketing and catering, the VIP boxes and hospitality assets, the use of Meeting & Events, and the Museum.