Barcelona Borrows €1.45B to Renovate Camp Nou Despite Financial Struggles

• Barcelona have taken a major step after signing the agreements to finance the Espai Barca project
• La Blaugrana borrowed €1.45 billion to finance a new project that covers Camp Nou's renovations
• Barcelona will not play any matches at their stadium for the 2023/24 season due to this revamp

Barcelona are not letting their financial struggles hold them down from planning for the future, after embarking on a renovation of their home stadium.

The Catalans are set to vacate Camp Nou for two seasons as renovation work begins at the end of the 2022/23 season, with the project to be completed by November 2024.

According to Football Espana, the project termed Espai Barca will cost the Catalan club a total of €1.45 billion in loans, which will be paid back over the next 24 years if everything goes to plan.

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Barcelona also intends to redevelop the area surrounding Camp Nou, including constructing a new basketball stadium, developing commercial centres, and building entertainment venues.

The payments for the massive loan will begin once work is completed at the team's famous stadium, which Barcelona believes will bring in €247 mil per year for the La Liga giants.

Barcelona to sign Uruguayan wonderkid

Meanwhile, Barcelona have agreed to sign 18-year-old Uruguayan rising star, Fabricio Diaz from Liverpool Montevideo next summer, Forbes reports.

Diaz impressed at the South American U20 championships earlier this year, captaining his country to a runner-up finish in the final against winners, Brazil.

The Uruguayan defender, who will cost the Catalans around €8 mil is expected to link up with La Blaugrana's B-team when he arrives at Camp Nou next term.

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Barcelona to offload star player

In related news, Sports Brief reported on Barcelona funding Lionel Messi's transfer by all means possible as the veteran nears the end of his contract with Paris Saint-Germain.

The Catalan club’s financial woes were the main reason the Argentine left the club in 2021 to pitch his tent in France, with Barca increasingly desperate to reunite with him.

Barcelona are reportedly considering selling French defender, Jules Kounde - who only joined the club from Sevilla last summer - to raise money to sign Messi to Camp Nou again.