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Barcelona news: Catalan Giants to raise €300million in shock Nou Camp deal
BARCELONA are close to raising €300million for the club after they increased the value of a sponsorship deal over naming rights for the Nou Camp.
Like all major European teams, the Catalan Giants are always looking to promote their commercial brand.
Barcelona used the recent tour of the United States not only to improve players' fitness, but also to use it as an opportunity to expand the Spanish team's global brand.
Club directors have stressed the importance of Barca’s brand being used as a valuable source of revenue.
"What's important is the brand, at the end it is what gives us the resources to be competitive," a director said about the trip to America.
Barcelona team show off incredible skills in training
What's important is the brand, at the end it is what gives us the resources to be competitive
In 2010 Barcelona took the decision to sign a shirt sponsorship deal with the Qatar Foundation for the first time in the club’s history and now the club at looking to cash in on the stadium.
Barcelona have now increased the valuation of a sponsorship deal by a third, regarding the naming rights for the new Nou Camp.
A referendum was held in 2015 to start the process for offering a sponsor’s name for the Nou Camp as the stadium prepares to undergo renovation - a valuation of €200million was set at the time.
Barcelona have now secured an agreement with the local council, as part of the process of developing the stadium. Following this agreement the club have raised their valuation for a sponsor’s naming rights to €300million.
Work has not yet started on renovating the Nou Camp, but it is expected to begin in 2019, with work being completed before the beginning of the 2021 season.
Any agreement for a sponsor’s naming rights is likely to place in the early part of 2019 before Barcelona hold its general meeting.