Negreira case spooks Barcelona investors – Camp Nou fund request report

Barcelona are underway with their plans to renovate Camp Nou, but they could face a spanner in the works.

Last week further information was leaked about the Negreira case, with  the judge seemingly pursuing ‘systemic corruption’ as a line of investigation, although no proof has yet been found of that.

Meanwhile according to El Debate, Barcelona’s investors in the Espai Barca project, which involved a funding of around €1.5b, have been spooked by those reports. Their information is that the American investors, including Goldman Sachs and JP Morgan, have asked Barcelona for a report on the matter, so they can put together a risk assessment.

If Barcelona face punishment for the Negreira case, it could significantly impact their ability to pay back the loans agreed, and thus the investors are concerned about the prospect.

The forecasts for Barcelona’s potential earnings from Camp Nou, from which they must pay back the Espai Barca loan, are based on their participation in La Liga and the Champions League, both of which could be placed in jeopardy depending on the findings of the Negreira case.

Until there is more conclusive evidence, Barcelona will not be unduly worried, although presumably they are aware of the entire situation. No doubt President Joan Laporta and the club will be keen to calm investors either way.