Barça completes €300 million Camp Nou bond as rebuild cost rises to €1.8 billion
FC Barcelona has placed a €300 million bond to finish the Spotify Camp Nou, turning a September members' vote into cash. The deal funds the final phase of the club's flagship project but also adds to a debt load already measured in billions.
FC Barcelona has finished raising the money to complete the Spotify Camp Nou. The club announced the €300 million bond issue on Friday, November 13. It came after Spain’s securities regulator, the CNMV, approved the deal. Goldman Sachs placed the bonds on its own.
The issue also confirms the scale of the rebuild. The full renovation now carries a price of €1.8 billion. That total leaves out the new 15,000-seat Palau Blaugrana, which is a separate project.
The club said the money will move forward the stadium’s transformation into Europe’s highest-capacity football ground. The plans include a large range of premium and hospitality areas. The bonds are meant to cover the remaining work without straining day-to-day cash or the budget for signings and wages.
Members backed the stadium borrowing by a wide margin
The green light came at the Ordinary General Assembly on September 19. Delegates approved a wider package of €510 million. It covers finishing the stadium and the financial impact of construction delays.
The construction portion passed easily. It drew 562 votes in favor, or 89%. There were 45 votes against, 14 blank ballots and 14 abstentions.
The new borrowing sits within the Espai Barça financing structure approved in 2023. That structure totals €1.485 billion. It keeps the same guarantees and solvency ratios. The same agenda also carried a separate item on bonds backed by additional audiovisual rights belonging to the club.
Debt keeps climbing even as revenue passes a milestone
The stadium bill feeds directly into the club’s balance sheet. Economic vice president Ferran Olivé told the assembly that total financial debt stands at €2.68 billion. Media notes account for €710 million of that. Other bank debt makes up €170 million. The rest is tied to Espai Barça.
The income side offers some balance. Ordinary revenue reached €1.06 billion in 2025/26. That was €66 million more than the year before. It was also the club’s first season above €1 billion.
For supporters, the figures frame the trade-off. The new stadium is designed to bring in more premium income. Until it is finished, the cost of building it keeps adding to the debt.
President Joan Laporta expects the team to move back into the Camp Nou permanently in January or February 2028. A bigger occasion follows. The UEFA Executive Committee, meeting in Thessaloniki, named Camp Nou as host of the 2029 Champions League final, with Munich staging the 2028 edition.
