Barcelona's budget to complete Camp Nou expansion revealed - Reports

Barcelona are reportedly set to undertake a massive expansion program entitled Espai Barca for the legendary Camp Nou stadium. The budget for the same is said to be around €1.5 billion.

The Blaugrana held an online referendum on Sunday (December 19) to decide on the expansion. Over 40% of the club's Socios across the world voted with 42,693 giving their go-ahead for the plan. 5,055 members voted against the undertaking, while 875 were obtained from voting.

Much of the concern around the Espai Barca project has been Barcelona's financial situation.

The Blaugrana are already in debt worth around €1.5 billion with the expansion project set to go ahead after the club obtains a third-party loan. This led to the online referendum, which overwhelmingly voted in favor of going ahead with the program.

Club president Joan Laporta had called for Espai Barca by stating that it was essential if Barcelona are to stay on a level footing with other big clubs. Many outfits around Europe, including arch-rivals Real Madrid, have revamped their home stadiums in recent years.

The Catalan giants are now set to begin some physical restructuring in and around the Camp Nou, with the work set to be completed in 2025. This could mean that the stadium might be closed during the 2022-23 season.

They could also be forced to play in a different stadium during a part of the 2023-24 campaign, with the Olympic Stadium in Montjunc a potential option.

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Barcelona's revamped home stadium could fit more than 100,000 fans

The Espai Barca project plans to improve the Camp Nou's seating capacity from the current 99,354 to around 105,000. Barcelona are also said to be planning other improvements within the stadium area and its surroundings.

A new pavilion area called Palau Blaugrana is set to be created for the club's basketball team. Additionally, multiple new offices, an on-site hotel and event spaces are also expected to be put in place.

Barcelona are also aiming to move to a system involving more sustainable energy. Rainwater harvesting and a retractable roof covered in 30,000 square meters of solar panels are to be deployed. The panels will help power an in-ground 360-degree screen and the stadium's security systems.

Laporta expects the developments, which aim to place Barcelona "at the avant garde of technology," to pay for themselves via an increase in annual revenue. The Barcelona president also revealed that the club are in talks to sell the naming rights to the 64-year-old Nou Camp stadium.