The Camp Nou renovation project, entitled “Espai Barça” (“Espace Barça”), was approved by the general meeting of representatives of FC Barcelona supporters-shareholders, for an amount of 1.5 billion euros.
The fundraising plan was approved by 405 yes, 21 against and 6 blank votes, and needed two-thirds of the votes to be accepted, according to the club’s statutes.
The decision, taken on Saturday, will however have to be ratified in a referendum to which all socios will be invited.
If ratified in the referendum, the € 1.5 billion loan will have to be repaid over 30 years, and Barca will only be able to do so by drawing on the excess income generated by the exploitation of the ‘Espai Barça.
The loan would be divided as follows: 900 million euros intended for the renovation of the Camp Nou, 420 million for the renovation of the Palau Blaugrana (the Barça basketball stadium which adjoins the Camp Nou), 100 million for urbanization works , 60 million for the modification of the local urban plan, and 20 million euros for the renovation of the Johan Cruyff stadium (football stadium located at the Barça training center, used in particular by the women’s Barça).
Renovation work on Camp Nou would begin in the summer of 2022 and end at the end of 2025. Other work, notably those concerning the renovation of the Palau Blaugrana, would run until 2027.