Laporta: Completing Camp Nou is essential for growth, and we won't increase the club's debt

Joan Laporta, the president of FC Barcelona, discussed the reasons for the rising costs of the Spotify Camp Nou redevelopment, along with details of the new financing the club intends to secure to complete the project.

During his speech at the FC Barcelona general assembly on Saturday, Laporta clarified that the club will seek to update the financing for the Espai Barça project worth €300 million, confirming that this step will not affect the club's accounts or its sporting policy.

Joan Laporta said: "Next year we intend to reach €1.195 billion, completing Spotify Camp Nou is essential for growth, it will be something unprecedented in the history of FC Barcelona, and it will be a hub for FC Barcelona fans and an unprecedented first-class source of income."

He added: "We secured funding of €1.485 billion, which was supposed to be repaid from stadium profits, and we wanted to ensure that it would not affect the members."

Barcelona's president addressed the reasons behind the delays in the stadium development and the rising costs, explaining that the project has undergone updates aimed at improving entry processes and implementing technology.

He said: "Since April 2023, there have been developments that caused delays in the work and increased costs. The project has been updated to improve accessibility and implement technology."

He explained: "In the initial bidding, there were 800 interventions, and it ended up being 3,000 between the first stand and the second stand. We faced an increase in material costs due to armed conflicts, and all of this affected the work."

He continued: "Our inability to return to Spotify Camp Nou and play at Montjuïc has also forced us to pay rent."

He added: "Today we are requesting approval for an update to the Espai Barça financing worth €300 million; this does not affect the club's accounts or sporting policy, as this money is earmarked for completing Spotify Camp Nou and accelerating revenue generation."

The president of FC Barcelona spoke about the new Palau Blaugrana project, confirming that it will not be part of the new financing for Espai Barça.

He said: "The new Palau does not fall within the amount of €300 million, we are looking for solutions, it will not require debt and will not affect the financing of Espai Barça."

In relation to the remaining financial files, Laporta announced that the club will seek to issue bonds worth €210 million, secured by broadcasting rights.

He said: "Today we will request the issuance of bonds worth 210 million euros, secured by broadcasting rights. Goldman Sachs has authorized all operations, which will allow us to avoid an uneven competitive situation."

He added: "Members will not have to pay any additional contributions."

He added: "The significantly increasing revenues from Espai Barça and the club's activities, along with having a competitive team, will lead to reaching an unprecedented revenue figure; we will have sustainable debt."

He added: "Forbes values FC Barcelona at €7.5 billion, we feel proud of the club's potential, we want to continue enhancing the member-based association model."

The president of FC Barcelona concluded his statements by saying: "This fills us with pride, we must preserve the institution through the association model, and we will implement measures to increase member participation."