Spanish soccer champions Barcelona have hired investment group, JB Capital Markets, on a consultancy basis, to aid the club’s funding pursuit for its €600 million (US$675.4 million) Nou Camp redevelopment, according to Spanish newspaper El Confidencial.
The Spanish company, owned by Javier Botín, the brother of the Santander bank president, Ana Botín, has apparently been drafted in to look at alternative options to ensure that the La Liga club accrues the necessary means to finance its Espai Barça project.
According to El Confidencial’s report, Barcelona are looking to finance the project through a mixture of revenue streams, including its new in-house commercial entity, the sale of Camp Nou naming rights, as well as a €200 million (US$225.1 million) bank loan.
While several suitors have reportedly held talks for the Nou Camp’s naming rights – including Dutch holding company Scranton Enterprise and Catalan pharmaceuticals company Grifols – Barcelona president Josep Maria Bartomeu has yet to confirm a deal.
In July 2018, Barcelona appointed US-based financial services company Goldman Sachs to advise them around the redevelopment of the stadium complex, though reports suggest Bartomeu does not want to hedge his bets, and has appointed JB Capital to widen their search for financial support.
When complete, the Nou Camp will have capacity to seat 105,000 spectators, up from the current 99,354, while a 12,500 multi-sport arena and 6,000-seat secondary soccer stadium are also earmarked for the complex.
In December, SportsPro reported that renovation works to the Nou Camp were facing a year delay and are unlikely to be finished by 2023 amid ongoing deferrals between the project’s key decision-makers.
It is understood that the delays were a result of administrative roadblocks, and are not impacted by the construction to other areas of the of the Espai Barça project, which are running to schedule.