Barcelona secures $1.6B financing to revamp Camp Nou

BARCELONA, Spain (AP) — Barcelona has secured financing of 1.45 billion euros from multiple investors to begin the renovation of Camp Nou stadium. Barcelona says the club’s assets were not used as a guarantee and there was no need to take a mortgage on the stadium. A total of 20 investors are behind the financing along with “some of the main prestigious financial entities around the world.” The club says the financing is composed of different instalments to be paid progressively at five, seven, nine, 20 and 24 years “with a flexible structure” and a “grace period.”