Building New Camp Nou Stadium Could Reportedly Cost FC Barcelona Up To $1.65B
FC Barcelona's directors have "reportedly been told construction of a new Camp Nou" stadium may cost around €1.2B ($1.65B), according to FOOTBALL ESPANA. The University of Barcelona recently threw plans "into doubt" when it denied that is negotiating with the club regarding a new stadium on University of Barcelona property. Barcelona Economic VP Javier Faus said on Monday that remodeling Camp Nou would require an investment of €300M ($413M), while building a new stadium would cost more than €600M ($826M) (FOOTBALL ESPANA, 12/12). In Barcelona, Fernando Polo reported that the €300M cost of renovation and €600M cost of a new stadium came from "estimates made in '10." Faus said, "Now, the prices of these projects will increase." Several "exec sources" have indicated that a renovation project would now cost €500M-€600M ($688M-$825M), while building a new stadium would cost approximately €1.2B. The price increase "would come in part because of the re-urbanization in the area around Camp Nou." In the case of "building a new stadium, Barcelona would have to spend a lot of money to buy the land necessary to do so." Under "these circumstances," the renovation option is "probably what Barcelona's board will choose in January" (MUNDO DEPORTIVO, 12/12).