(Reuters) - FC Barcelona have secured a financing deal worth 1.45 billion euros ($1.6 billion) that will enable the club to renovate its iconic but outdated Camp Nou stadium and its surroundings after having renegotiated the initial terms, they said on Monday.
Barcelona added that they signed the agreement with 20 investors, including Goldman Sachs and JP Morgan.
"The club will start to repay the operation once work has been completed on the stadium, using income generated by the Spotify Camp Nou, which is forecast to be around 247 million euros," Barcelona said in a statement on their official website. The preliminary debt structure has since been revised, the Kroll Bond Rating Agency said in reports published on its website.
Camp Nou is the largest football stadium in Europe and the fourth-largest in the world by capacity, with 99,354 seats.The club estimates that the revamped stadium will allow them to generate more than 200 million euros of additional revenue annually through sponsorship and naming rights, ticketing, catering, VIP boxes, hospitality, meetings and events.
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