Barcelona were due to explain to investors and secure investment for the their €1.5b Espai Barca project by the end of March, but they may miss that deadline. The club had set the deadline themselves, but with the first team set to play at Estadi Lluis Companys while work takes place on Camp Nou next season, there is little time to waste.
The Espai Barca project will see not only Camp Nou redeveloped, but also the surrounding area, which will be commercialised by the club.
Following reports that letters would be sent on Thursday reassuring investors about El Caso Negreira, and a board meeting on Thursday to discuss the financing of the project, El Mundo have revealed that internally there is an acknowledgement that a deal may not be done on Friday.
‘It’s not as if there is a sword of Damocles hanging over us that has to fall on the 31st of March’, were the words quoted by the Spanish paper. They go on to highlight that the club are trying to negotiate improved terms for the loans to be taken out, which are being secured by Goldman Sachs and JP Morgan. The rate of interest is set to be 6%, but Barcelona want to reduce that rate after five years.
There has been little word on the matter from the club of late, other than to reassure fans that the deal with Turkish construction company Limak, and that they will be back at Camp Nou in 2024.
With Caso Negreira and Espai Barca hanging over President Joan Laporta, he will be under pressure to provide answers to the Barcelona members sooner rather than later. Of late, Laporta has defended Barcelona against attacks designed to stain the image of the club.
