O Benfica is sounding out several banks, with the North American JPMorgan Chase at the head, to obtain the necessary capital to carry out the renovation of the Estádio da Luz and the implementation of the Benfica District project.
The information is provided by Bloomberg, which cites sources close to the negotiation. Talks between the football club and the American bank are still at an early stageaccording to the same sources. Contacted by the financial news agency, none of the parties commented on the information provided. No details about the financing format are revealed.
The main objective of remodeling the Estádio da Luz will be increase the number of seats from the current 68 thousand to 80 thousand. These and other changes to the stadium will have a cost of 75 million euroswhile the Benfica District project – which foresees the requalification of the area surrounding the sports complex – has a estimated cost of 220 million euros.
At the beginning of January, the Benfica District project was approved in the general assembly with 59.24% votes in favor and 40.76% votes against.
75MILLION
Value, in euros, predicted for the remodeling of Estádio da Luz
At that same meeting, the president of Sport Lisboa e Benfica, Rui Costa, guaranteed that the project is “autonomous in terms of financing and that at no time will it compromise” the investment capacity in the different sports teams of the red club.
“Regarding the financial impact, this project was designed to be self-sustaining. The revenues will pay for its financing. It will always have a positive impact on Benfica’s accounts. A gross revenue of €37 M is expected, removing the day-to-day operating costs of the project. The deadline set for 15 years guarantees a positive contribution”, said Nuno Catarino, the club’s financial director, in the beginning of this year.
Despite a reduced trading volume, Clube da Luz’s shares lost 2.09% to 6.56 euros per title.
