As part of the club's growing worth as an international power, Barcelona have announced plans to redevelop the Camp Nou stadium.
Speaking in a press conference Monday, Jan. 20, club president Sandro Rosell stated that Barca have ultimately decided to build on the Camp Nou's current site, rather than break entirely new ground, which was the alternative proposed.
The club's official Twitter account has coverage of the board's announcements:
Rosell: “The Camp Nou is part of our collective memory. It is the largest stadium in Europe and is an icon of the city of Barcelona”— FC Barcelona (@FCBarcelona) January 20, 2014
.@sandrorosell: “The option of building a new stadium on a new site has been dismissed as the final cost could well mortgage the Club”— FC Barcelona (@FCBarcelona) January 20, 2014
However, any plans in the pipeline have yet to be rubber-stamped, with it also being disclosed that a referendum is required to sign off on construction taking place on the existing stadium:
Rosell announces the Board will submit the project to build a new Camp Nou on the existing structure of the stadium, to a referendum— FC Barcelona (@FCBarcelona) January 20, 2014
The Camp Nou is already Europe's largest stadium, boasting a capacity of just under 99,000, and any expansion of the site would make it one of the 10 largest venues of its kind in the world.
Aside from the obvious financial benefits this would bring the club, the upgrade would only help cement La Blaugrana's place as one of the planet's wealthiest sporting organisations, too.
Back in September of last year, El Pais' Alvaro de Cozar wrote a piece on Real Madrid's plans to remodel the Santiago Bernabeu, including a possible sponsorship name being attached to the renovated building.
Barcelona are seemingly not content with the idea of allowing their bitter La Liga rivals to be a step ahead, as this latest announcement promises to grow their brand further.
The club released images of what the new site will look like:
Economic vice president Javier Faus revealed at the press conference that a budget of €600 million had been allocated to fund the remodeling endeavor, but made clear that this money has to come from the club's own resources.
Of that €600 million, an estimated €420 million will be allocated for the upgrade's individual cost, while a planned Palau—used for complementary services such as restaurants, new parking facilities and entrances—is set to cost approximately €90 million.
A time frame during which the club hopes to pay for this overhaul of the Camp Nou was also given:
Javier Faus insists that the project will be paid for "in 8 or 10 years, in the most part using our own resources" #fcblive— FC Barcelona (@FCBarcelona) January 20, 2014
Board Member Jordi Moix is explaining that building work will take place between May 2017 and February 2021 #fcblive— FC Barcelona (@FCBarcelona) January 20, 2014
Faus went on to state that the club will not acquire a sponsorship deal to rename the stadium in any way, but left the door open for a form of "surname," using "Camp Nou Coca-Cola" as an example.
The assembly members would have to vote on any name change, although Faus added that any change "would have to be one that the members want."
A promising makeover of the club's already iconic ground gives Barcelona reason to be excited about what the future holds, with gradual modifications set to be implemented as the Catalan giants reach new heights in the European hierarchy.