[FC Barcelona](https://www.barcablaugranes.com) has announced a major financial maneuver to refinance a significant portion of its “Espai Barça” debt, issuing €424 million in bonds just days before the end of its fiscal year. This new arrangement, made with long-time financial partner Goldman Sachs, extends the repayment timeline from an initial deadline of 2028 to a much longer horizon ending in 2050.
The bonds represent approximately 40 percent of the debt incurred from the Espai Barça project, which includes the renovation of the Camp Nou and surrounding infrastructure. The refinancing will carry an average cost of 5.19 percent annually, translating to an approximate interest outlay of €22 million across the full term. Repayments will begin in 2033, allowing the club a decade of financial breathing room.
Club officials view the bond issuance as a positive sign of investor confidence and economic recovery. The risk premium has reportedly been cut in half compared to a previous bond issue in 2023. Critics point to an increase in interest payments in the long run.
This move also aligns with the financial structure approved by members during previous club referendums. Importantly, the new financing does not involve mortgaging the stadium or using club assets as collateral, and it places no burden on club members. The funds raised will go toward the continued reconstruction of Camp Nou, which remains behind schedule and is now expected to be completed no earlier than 2027.
With this new deal in place, Barcelona hopes to meet UEFA’s financial regulations more comfortably and pave the way for sustainable operations once Camp Nou returns to full capacity. The stadium is projected to generate around €247 million annually once completed.
While critics remain wary of the debt, the current board sees this refinancing as a vital step in preserving the club’s competitive and economic future