Spanish LaLiga football club Barcelona is reportedly considering a new financial model to fund its Espai Barça development project.
Spanish business news website Palco23, citing sources in the financial sector, reported that board members will soon be called to an extraordinary assembly meeting, at which a new proposal is set to be put forward.
Palco23 said that Barcelona is considering launching a model that can issue bonds of up to around €600m (£529m/$658m) so it will not impact its balance sheet. Barcelona revealed last week that €73m has been set aside for work on Espai Barça during the 2019-20 financial year.
Spanish newspaper Mundo Deportivo, citing a report by Catalunya Ràdio, said that the new model will see US investment bank Goldman Sachs provide €700m of funding in exchange for a percentage of the profits generated by the project over the next 25 years.
The report comes after Barcelona president Josep Maria Bartomeu revealed earlier this month that the Espai Barça project, which seeks to transform and integrate the club’s stadia and arenas, could reach €685m.
The first part of the plan was completed last month when the 6,000-seat Estadi Johan Cruyff opened its doors. The project will also see the capacity of the Camp Nou stadium increase to around 105,000.
The new Estadi Johan Cruyff will be the new home of the Barça B and women’s teams, as well as the club’s U19 side when it plays in European competitions.
Image: FC Barcelona