Barcelona announced on Monday that they had received money for a refurbishment plan of €1.45 billion and that work on the Camp Nou Stadium will begin on June 1.

The money, according to a statement from the club, came from agreements with 20 investors who would earn their money back over terms ranging from five to 24 years. Barcelona stated that once the project was finished, they will begin making loan payments.

The ‘Espai Barca’ plan, which includes expenditure on other club facilities in addition to the football stadium, is described above. The basketball and handball teams of the club play at the Palau Blaugrana, which will get €420 million. The Johan Cruyff Stadium will receive €20 million.

The club said they expected the work on Camp Nou to be completed by 2026. The men’s first team will play at the Olympic Stadium on Montjuic before returning in the 2024-25 season to Camp Nou not yet at full capacity.

Barcelona are emulating their main Spanish rivals Real Madrid who began the latest renovation of their Bernabeu Stadium in 2019.

The club is emerging from a financial hole which led to losses of €481 million in 2020/21 which led to the departure of the club’s all-time leading scorer Lionel Messi.

The club is emerging from a financial hole which led to losses of €481 million in 2020/21 which led to the departure of the club’s all-time leading scorer Lionel Messi.

Last summer the club raised around €750 million by selling 25 per cent of its LaLiga television rights for the next 25 years and 49 per cent of its Barca Studios.