Barcelona signs Goldman Sachs to secure funding for Camp Nou revamp

Barcelona signs Goldman Sachs to secure funding for Camp Nou revamp

Spanish football giants Barcelona have appointed American multinational bank and financial services company Goldman Sachs to aid the club in securing funds for revamping their home stadium Camp Nou.

Goldman Sachs will help secure a loan for LaLiga Champions and explore other means of investment such as naming rights and advertising space. According to the club’s plan, the required funds are to be routed via three channels: commercial deals, naming rights and a syndicated loan.

The renovation cost of the main venue and its vicinity, which also involves the construction of a hotel and shopping areas, has been estimated at €600 million ($700 mn).

The firm has a vast experience in numerous stadium projects it has handled in the recent times. It played a similar role with NFL team the San Francisco 49ers in the construction of the Levi Stadium. In Europe, its services were enlisted by both English club Tottenham Hotspur for their new stadium, as well as Italian club AS Roma, for funding.

Reports of Japanese e-commerce giant Rakuten’s interest in acquiring the naming rights of Camp Nou had emerged last month. The Japanese e-commerce giant is a principal sponsor of Barcelona. Club’s president Josep Maria Bartomeu also received an offer of €300 million for naming rights in February.

Also Read: Barcelona’s shirt sponsor Rakuten eyes Camp Nou naming rights