Spanish soccer giants Barcelona have appointed American financial services company Goldman Sachs to advise them in their mission to redevelop their stadium complex, the Camp Nou.
The renovation of the area around and including the main venue, which also involves the construction of a hotel and shopping areas, has a budgeted cost of €600 million.
Goldman Sachs have worked on numerous stadium projects in recent times, playing a similar role with National Football League (NFL) team the San Francisco 49ers in the construction of the Levi Stadium. In Europe, Goldman Sachs were enlisted by both English soccer club Tottenham Hotspur for their new stadium, as well as AS Roma, an Italian soccer team, for extra funding.
The American finance company will not just work to secure a loan for Barcelona, but also to explore other means of investment such as naming rights and advertising space. The club’s plan is for the fundraising to take three forms: commercial deals, naming rights and a syndicated loan, which is the main function of the Goldman Sachs partnership.
In February, Josep Maria Bartomeu, the club president, said that he had received offers of €300 million for the naming rights.
The Catalonia-based club has also signed a deal with American clothing brand Thom Browne to become Barcelona’s official supplier of off-field uniforms and its tailor-made wardrobe. Under the three-year agreement which starts from the beginning of the 2018/19 season, the team will wear Thom Browne attire at Champions League and La Liga away fixtures.