FC Barcelona faces a recurring financial strain as stadium renovation costs for the Camp Nou climb to €1.8bn, forcing the club to plan another temporary relocation next summer.
Revenue has passed €1bn for the first time, but the structural overhaul of the historic venue demands continuous capital. The club raised €1.45bn in 2023 for the rebuild before club delegates voted on September 19 to increase the borrowing limit to €1.8bn.
The extra funds address structural work that exceeded initial projections. The team left the Camp Nou in May 2023 to play at the Olympic Stadium on Montjuïc, missing a targeted return for the club’s 125th anniversary in November 2024. The squad finally returned to the venue in November 2025 while construction remained incomplete, and the club paid over €90m in interest last season.
An additional €210m was borrowed against future television rights and remains repayable by October 2036. Half of that sum was secured in July, two months prior to the formal vote by club delegates.
Construction updates indicate that 62,652 seats are currently open, with capacity projected to reach 105,000 upon completion. The third tier of seats will not open before 2027, and the team will return to Montjuïc from June 2027 to January 2028 while workers install the stadium roof.
The finished stadium will feature approximately 9,500 VIP seats, with nearly 5,000 already sold on various contract lengths for over €380m. In December 2024, the club sold another 475 seats in advance for up to 30 years, generating €100m. In September, management offered 2,000 additional seats as licences of 15 or 30 years paid upfront, anticipating about €700m from the model.
Operating as a member-owned association, Barcelona lacks an external benefactor to inject capital directly, leaving borrowing and the sale of future revenue streams as the primary financing methods. Real Madrid adopted a similar strategy by borrowing €575m at 2.5% over 30 years and selling 30% of the Bernabéu’s new business income for 20 years for €360m to American firms Sixth Street and Legends.
| Stadium Project | Initial Loan | Additional Funding Sources | Matchday Revenue After Rebuild |
|---|---|---|---|
| Santiago Bernabéu | €575m at 2.5% for 30 years | €360m for 30% business income | €363m last season |
| Camp Nou | €1.45bn raised in 2023, raised to €1.8bn | €210m TV loan, VIP seat licences | €225m last season |
Real Madrid generated €363m from its stadium last season, more than double its pre-renovation figures. Barcelona recorded €225m and projects an increase of about €250m annually once the Camp Nou is finished.
Every month construction runs late, interest continues to accrue while the anticipated revenue remains delayed.
