Barca allocate €20M to upgrade Olympic Stadium for 2023-24 season

Madrid, June 21, 2022 (AFP) - Barcelona president Joan Laporta said on Tuesday the club will have to spend "between 15 and 20 million euros" to improve the Olympic Stadium, where Barca will play the 2023/2024 season while renovation work is carried out at Camp Nou.

"We have committed ourselves to adapting the Olympic Stadium's facilities, which are already in very good condition, and modernising several areas, such as the press stand, the changing rooms and parking," Laporta said.

In December, Barcelona's members approved the club taking out a loan of up to 1.5 billion euros to finance renovation projects, with 900 million euros allocated towards the revamp of Camp Nou.

Barcelona's board was also given permission last week to sell off portions of both its licensing and merchandising business and its La Liga television revenues, which the club believe could raise 700 million euros.

Barca are still battling huge debts, which stood at more than a billion euros at the start of last season, causing the departure of Lionel Messi to Paris Saint-Germain.

But the 99,000-capacity Camp Nou is seen as an historic stadium in urgent need of repair. By modernising the ground, and increasing its capacity to 105,000, the club hope to boost revenues in the future.

Barcelona plan to begin renovations this summer and work will continue through next season.

In the 2023/2024 campaign, Barcelona will move to the Olympic Stadium to coincide with the revamp of the stadium's third tier and the roof.

Barca will then return to Camp Nou in the 2024/2025 season, but with a reduced capacity of around 50 per cent, before the refurbishment is due to complete for the 2025/2026 campaign.