Goldman Sachs, which had agreed to lend 595 million euros to help restructure the club’s debt in August, will finance the stadium revamp under a 35-year plan, including an initial five-year grace period. The plan won 87.8 per cent backing from 48,623 participants, some 44.2 per cent of the club’s total members. They voted in favour of raising additional funds to a debt plan for financing a wide-ranging project known as ‘Espai Barça’ that was initially planned in 2014. The club’s debts total 1.35 billion euros, 673 million of which is owed to banks. Barcelona President Joan Laporta said the club expects to generate 200 million euros of additional revenue annually with the new stadium thanks to sponsorship and naming rights, ticketing, catering, VIP boxes, hospitality, meetings and events.

Source: The Star December 21, 2021 01:26 UTC