Barcelona defender Gerard Pique is ready to fund the renovation of...

Gerard Pique is reportedly ready to help fund the renovation of the Nou Camp stadium in Barcelona after the club lost £ 88m in the Covid-19 pandemic.

The idea of ​​rehabilitating the floor by increasing capacity to 105,000 was first proposed in 2014 when the club’s budget was £ 542 million but the estimated final cost is up to £ 740 million.

Barca’s finances have taken a huge blow during the coronavirus pandemic Radiomarke report that longtime defender Pique has offered to act as an intermediary between the club and other companies willing to fund the project and has also shown interest in outsourcing projects.

Barcelona’s plans to renovate their iconic stadium have stalled during the Covid-19 pandemic

Pique has a long history of generating business for the Catalans and has played a key role in the current sponsorship deal with Rakuten.

Goldman Sachs is responsible for funding the project. The club predicts an income of £ 150 million per year.

Barca’s money problems are well documented. The latest figures show a huge loss of £ 88m and net debt that has doubled to over £ 440m.

The club’s revenue declined 19 percent year over year to £ 123 million as fans were unable to attend games due to Covid-19 security measures.

Barca were hit hard by the coronavirus pandemic with a financial loss of £ 88m

Barca were also hurt by the huge drop in tourism in the city, which had an impact on revenue from the museum, which typically receives 1.2 million visitors a year, and from merchandising.

Last month, Vice President Jordi Moix insisted that the club continue with its plans to renovate the stadium.

According to Moix, the pandemic made redevelopment of the site and surrounding area known as Espai Barca more urgent, adding that the project would ultimately pay for itself.

“Espai Barca is needed more than ever because of Covid,” said Moix.

Vice-President Jordi Moix says Barca need to continue plans to renovate their stadium

“It’s a way to get the city and club’s economy going again and generate new revenue, but we have to make that investment.”

“We have a stadium where nothing new has been done since 1982. So there are a number of activities and potential revenue that we don’t have in the stadium now and that will be generated in the new stadium, ”said Moix.

“So we agreed on a system where Goldman has the right to be paid year-to-year as a guarantee that this income will be repaid.”

It is hoped that work on the stadium will begin in January 2021 and is expected to take five years.