The board chaired by Joan Laporta meant to announce yesterday with nice fanfare the signing of a definitive settlement with buyers to acquire the required financing to make Espai Barça a actuality price 1,500 million.
The board chaipink by Joan Laporta meant to announce yesterday with nice fanfare the signing of a definitive settlement with buyers to acquire the required financing to make Espai Barça a actuality price 1,500 million. The Barcelona board had validated the method on Thursday afternoon and yesterday wished to complete agreeing the circumstances with the financiers. However, as an alternative, he issued a brief assertion through which he indicated that "he's within the technique of closing the financing of Espai Barça and informs that he'll shut the negotiations subsequent week". Subsequently, the settlement is postponed, though initially for a short while. As this newspaper has discovered, the 2 events have met on Monday to signal the settlement. Each the membership and the buyers take into account that the difficulty could be very a lot on monitor.
Barcelona had set itself the date of March 31 because the deadline for reaching the financing settlement, whereas yesterday morning the opportunity of holding a press convention was being studied, which in the long run was aborted.
The entity and in addition the buyers that Goldman Sachs and JP Morgan have recruited set this deadline of the top of March to seek out an settlement. The intention stays to shut this financing as deliberate from the start of the negotiations, as La Vanguardia has been reporting, that's to say, with as much as three tranches of 500 million and with an preliminary curiosity of 6%; even supposing the membership insists on having the ability to refinance it from the fifth yr onwards, with the hope that this fee might be lowered and renegotiated as soon as the brand new stadium is up and working and the membership can begin paying again the cash borrowed.
The difficult monetary scenario of Barça and the unstable scenario of the monetary market prompted some managers to noticeably take into account the choice of suspending the undertaking for a season, till the panorama of the banking and funding sector improves; however in the long run it was determined to realize the marked purpose of the financing, and that is what Barcelona communicated on Thursday after the assembly of the board.
What Barça had no selection in deciding earlier than the top of the month was the affirmation of which stadium they are going to play within the subsequent marketing campaign. It was a UEFA requirement for European competitions.
That's the reason Barcelona knowledgeable the Royal Spanish Soccer Federation (RFEF) on Thursday afternoon that the primary crew, in the course of the coming season, will play the matches as a house crew on the Lluís Companys Olympic Stadium in Montjuïc, an info that the federating physique should notify, in flip, UEFA. In the meantime, in Montjuïc, the quite a few works have already begun to adapt the set up to the wants of Barcelona. The membership's board of administrators additionally accepted that the following Joan Gamper Trophy will likely be held on the Lluís Companys stadium.
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