Overview

• Barcelona confirmed the October 18 league match against Girona will be played at Montjuïc and now plans to reopen Camp Nou only once it can host about 45,000 spectators.
• The shift replaces an earlier 27,000-seat partial return after the club judged Montjuïc’s takings to exceed those from a smaller Camp Nou opening.
• Investors financing the renovation will retain stadium-linked income above €175 million in the securitization fund as a protection until agreed conditions are met.
• A planned €44 million interest payment tied to the stadium being operational will not be made this year, and the delay has been labeled force majeure related to municipal operating limits.
• A €424 million refinancing at 5.19% is in place, municipal inspections for licenses 1A and 1B are pending, and no new reopening calendar has been agreed.