The Blaugrana will now have to reimburse all of this percentage by 2050.
Since the Barcelona financial crisis, aggravated by the pandemic, the refinancing of the debt and the postponement of costs have been a recurring theme of President Joan Laporta's second term. The Blaugrana have between 1 and 1.5 billion euros in debt, mainly converted into long -term debt. Added to this are the renovation costs of Camp Nou and Spai Barca, which bring this figure to almost 3 billion euros. The total cost of the Spai Barca project, renovations of the Camp Nou included, amounts to 1.45 billion euros.
Barcelona issues 424 million euros in bonds
Friday afternoon, only three days before the end of its fiscal year, Barcelona announced the issue of bonds for an amount of 424 million euros, with the agreement of Goldman Sachs, corresponding to around 40 % of the debt contracted within the framework of the Spai Barca project, which provides for the construction of the Camp Nou district.
The agreement provides that Barcelona will begin to reimburse the bonds in 2033 and will finalize its schedule in 2050. The average cost of refinancing is estimated at 5.19 %. Applied to the entire amount, this represents around 22 million euros. The obligations in essence constitute a legal contract guaranteeing a payment over a given period.
Barcelona buys time
The debt was initially to be reimbursed by 2028, and although this generates interest costs, the current board of directors provides the time necessary to make the reimbursements. The Camp Nou should accuse at least ten months late and not be completed before 2027 at the earliest, which leaves Barcelona time to get back on their feet. That said, the Laporta opponents expressed their concerns about the growing debt of the club and suggested that it remained in an unstable financial situation.
