LaLiga club FC Barcelona has reportedly hired Goldman Sachs as it looks to lower debt related to the wide-ranging redevelopment of the Spotify Camp Nou.
The Bloomberg news agency, citing people familiar with the matter, reported that Goldman Sachs will “explore ways” to reduce the cost of debt used for a major expansion of the Camp Nou.
Barcelona is said to be seeking a reduction in interest payments by partially refinancing the €1.45bn (£1.22bn/$1.58bn) in debt it raised to fund the redevelopment. Bloomberg notes that Barcelona’s debt repayments will begin next year, with a €583m repayment due in 2028.
The expansion of the Camp Nou forms part of the wider Espai Barça development plan, which also includes a new Palau Blaugrana arena. Back in October 2020, Barcelona signed an €815m loan agreement with Goldman Sachs to fund its Espai Barça plans.
That loan covered €725m for construction work and €90m in interest, with Goldman Sachs to be repaid over a 30-year period (five years of construction and 25 years of management). At the time, the 25-year payment period was due to begin from the 2024-25 season, when the project was originally due for completion.
The Camp Nou expansion has since been hit by delays, and it remains unclear whether Barcelona will be able to move into a partially reopened stadium before the end of the current season.
In January, Barcelona said it would request an extension to its tenancy at Estadi Olímpic Lluís Companys covering the remainder of the 2024-25 season. While the club’s stated goal is to return home before the end of the season, it moved to ensure a backup plan is in place should this not be possible.
The request came after Barcelona had further delayed its return to the Camp Nou after informing fans that matches would continue to be played at the Estadi Olímpic until at least April 23.
Barcelona has been playing at the Estadi Olímpic since the start of the 2023-24 season while the Camp Nou undergoes major redevelopment work. The Camp Nou’s capacity is increasing to 105,000, with the venue also being fitted with a new roof.
Barcelona had initially planned on moving back into a partially open Camp Nou midway through this season.
Goldman Sachs is also working with LaLiga clubs Real Betis and Valencia on their respective stadium projects.
