Barcelona FC Extend And Double Goldman Sachs Loan
Barcelona FC agreed to a contract with Goldman Sachs to fund the rebuilding of Camp Nou
But soon discovered that the sum borrowed was insufficient. The club has now acquired more cash, which will be accessible in 2023
The previous loan agreement's agreed-upon expiration date has passed.
Initially, Goldman Sachs agreed to lend Barcelona FC €815 million to pay the costs of seriously delayed reconstruction work at the Camp Nou stadium and surrounding area
The original loan, which was organised under Josep Maria Bartomeu's administration at the club
The project was further hindered by the Coronavirus outbreak, which rendered Barcelona FC unable to repay its bridging loan
The €90 million bridging loan was due to be paid off in 2021, then again in February of this year.
Barcelona FC has confirmed that its bridging loan has not only been extended for another year
But that its amount has also been increased to €180 million. Work on Camp Nou
Which has been delayed numerous times owing to the COVID-19 dilemma
Must now begin no later than this year's offseason and be completed in full by 2025.