1.5 billion in 24 years to reform the Camp Nou

BarcelonaFunding for Espai Barça continues. The deal was closed between Monday and Tuesday due to the time difference with the United States, where the main headquarters of Goldman Sachs and JP Morgan, the financial institutions in charge of structuring the operation, are located. The forecasts of the board of directors of Joan Laporta, who at the end of last week were present to finish sealing the most important loan in the history of the club: 1.5 billion euros to reform, are therefore fulfilled the Camp Nou and its surroundings. The institution embarks on this demanding commitment despite its problems in squaring the numbers without having to sell assets.

Barça is now looking for a way to communicate the details of the agreement to the partners, who gave the yes to an operation that did not exceed 1.5 billion including the construction of a new Palau Blaugrana on the grounds of the Miniestadi. There is, for now, no news in relation to the company that will build this pavilion so that the Blaugrana sections can play there and events can be organized there. On the other hand, it has transpired that the 1,500 million will be returned with the sole guarantee of Camp Nou income. Of course, with an initial interest of between 5.5 and 6% that the entity hopes to reduce from the fifth financial year, when it is expected that the renovated stadium will already be at full capacity.

In the absence of official explanations, the financing, which will drag on until 2047, will be completed in several installments. The first, provided by Goldman Sachs and JP Morgan, will serve in part to wipe out previously requested bridge loans worth about 200 million. There will also be several investors involved around whom there is absolute silence. There are those who have hesitated to continue the operation after the Negreira case and there are those who have reduced the bet they had initially planned. Those who do resist do so after asking Laporta for an explanation in the face of threats from UEFA regarding a hypothetical exclusion from the next Champions League due to the refereeing scandal. The Barcelona president has convinced them by presenting them with a plan B with friendlies and tours to compensate for the economic loss that would mean not going to Europe.

Limak’s forecast is to start construction in June

The agreement crystallizes despite the internal debate that existed in the board about the advisability of taking it forward. Eight hours of ordinary meeting at the Camp Nou confirmed the discrepancies in the offices, which began to fade when Barça informed the RFEF that the first football team will play next season in Montjuïc, a fact that does not please the dressing room commanded by Xavi Hernández. Limak is called upon to introduce the heavy machinery to Arístides Maillol at the beginning of June, but before that the club will have to obtain the final building permit from Barcelona City Council. The sources consulted say that the times will be met. Espai Barça is about to start rolling so as not to stop.

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