Barcelona launches €300m bond to complete the Camp Nou

Thursday 24 September 2026, FC Barcelona announced that it is seeking investors for a €300 million bond intended for the renovation of the Spotify Camp Nou, after the Delegates' Assembly approved last Saturday a financing package of €510 million to cover the project's delays.

Financing structure

The private placement, managed by Goldman Sachs, provides for three tranches with a thirty‑year maturity. The first component is the €300 million bond issuance, while the second, €210 million, consists of two Media Notes of €105 million each. The first Media Note was issued in July 2026; the second is scheduled for October or November, both with a maturity of up to ten years, fixed rate and a guarantee on the audiovisual revenues of La Liga and UEFA competitions.

Costs have risen due to the need to structurally consolidate the second ring of the original Camp Nou, designed by Francesc Mitjans and inaugurated in 1957. Over 3 000 consolidation works have been carried out, compared with the roughly 800 initially planned. The club has also expanded the project to include new VIP areas, more space for the museum, enhanced 5G connectivity and advanced building‑management systems.

"This stand, which had to be preserved for its historic value and its status as a protected city monument, required far more work than initially anticipated. The full scope only became apparent as the works progressed," Barcelona explained.

The announcement was disseminated on platforms such as Nations League, Football, Highlights, Live, Video, Photo, Tennis, Drive, MotoGP, Pressing, Sportmediaset, XXL, News, Coppa Italia, Supercoppa Italiana, Formula, Podcast, Lifestyle, Scudetti, Area, Help, FAQ, Info, Cookie Policy, Set and Media, confirming the extensive media coverage of the operation.

Revenue and EBITDA projections

The transaction falls within the financing structure of Espai Barça, approved in 2023 for a total value of €1.485 billion, maintaining the same guarantee framework and solvency ratios. Forecasts indicate revenues exceeding €1.45 billion and EBITDA above €370 million in the 2030/31 season, compared with €1.06 billion in revenues and €184 million in EBITDA projected for the 2025/26 season.

With the completion of the Espai Barça project and the permanent return to the Spotify Camp Nou, the club anticipates a substantial increase in its revenue‑generating capacity, thanks to the new VIP facilities, the expanded museum and the 5G solutions. The aim is to consolidate Barcelona’s long‑term financial position, ensuring stability even in the event of further delays.