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Barcelona

Barcelona extend and double Goldman Sachs loan for Camp Nou works

6:53 PM WAT 26/04/2022
BARCELONA CAMP NOU

Barcelona have received an increase in their loan from Goldman Sachs, but will not be able to use the new funds to assist them in transfer market activity this summer, GOAL understands.

The Blaugrana previously struck a deal with the American banking giant to help finance a redevelopment of Camp Nou.

Now however, the club has secured further funding, to be made available in 2023, having previously expanded the expiration date of their prior loan agreement.

What will Barcelona get from Goldman Sachs?

The banking giant originally contributed €815 million to help facilitate a redevelopment of Camp Nou and the surrounding area, which Barcelona secured with a bridge loan of €90m.

That number, originally agreed under the Josep Maria Bartomeu administration at the club, was raised to €1.5bn last year by successor Joan Laporta.

Issues brought on by the Covid-19 pandemic however slowed any potential repayment from the bridging loan, due initially in 2021 and then extended to February this year.

Now, not only have Barcelona earned an extension once again on the latter, they have doubled it to €180m too.

What financial impact will this have on the squad?

As part of the terms of the new deal, Barcelona will be unable to use any of their fresh funds to sign players and bring onboard new faces in their squad.

The Blaugrana have often spoken at length about how they cannot afford to buy any players, and how the rules in La Liga have limited their ability to register them too.

But this deal will theoretically have no impact in terms of allowing them additional wiggle room.

When must the work start?

The Camp Nou renovation project has been in the works for several years now, but complications brought on by the Covid-19 pandemic has left them struggling to get off the ground.

As part of the fresh terms now, work must start no later than the offseason this year - and must be completed by 2025.

However, further complications are expected to be raised by the cost of materials, amid the ongoing Ukraine-Russia crisis.

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