FC Barcelona's delegate members approved new financing totaling €510 million on September 19, 2026, to ensure the completion of the Spotify Camp Nou renovation and address financial impacts from project delays. This package is divided into two distinct components. The first is a €300 million extension to the Espai Barça stadium financing, increasing the project's total ceiling from approximately €1.5 billion to €1.8 billion. This component was approved by 89% of votes (562 in favor) and will primarily fund the completion of the Spotify Camp Nou, including the third tier, roof, expanded VIP/hospitality areas, and crucial structural reinforcement of the second tier, which required over 3,000 interventions compared to the 800 initially planned. This financing is structured as a private placement with a fixed rate and an approximate 30-year horizon.
The second component of the financing package involves €210 million raised through two Media Notes issuances, secured against the club's audiovisual revenues. The first €105 million tranche was already placed in July 2026, two months before the member vote, with the second €105 million tranche scheduled for October–November 2026. This measure received 85% of votes in favor (486 votes). These funds are intended to provide ordinary liquidity and manage interest costs until the stadium operates at its full revenue-generating capacity, which is not expected until at least January 2028. The club anticipates a substantial increase in revenue, projecting over €1.45 billion in revenues and more than €370 million in EBITDA by the 2030/31 season, up from projected €1.06 billion in revenues and €184 million in EBITDA for the 2025/26 season.
The new financing brings FC Barcelona's aggregate financial debt to approximately €2.68 billion, according to the club's presentation. This includes about €1.80 billion for Espai Barça, €710 million from Media Notes, and €170 million in other bank borrowing. This total is significantly higher than the gross debt figures often reported using LaLiga's perimeter, which excludes the ring-fenced stadium vehicle. Club officials, including economic vice-president Ferran Olivé, justified the increased costs by citing external factors, expanded scope, and the rising cost of money, assuring members that no further financing would be needed for the stadium project. However, the club still plans to find an external investor for the new Palau Blaugrana arena, which has been removed from the Espai Barça financing package, seeking a partner to cover construction costs in exchange for 50-year commercial exploitation rights.
