Barcelona schedule board meeting with decisive deadline for club future looming Friday

Barcelona are facing a crucial week for their future, with a board meeting scheduled in order to deal with two major issues before the end of the month.

According to Cadena Cope, Barcelona have called a board meeting for Thursday in order to discuss El Caso Negreira and the potential repercussions for the club, with explanation of their side of events yet provided to the public.

It will also deal with the financing of the club, and in particular the Espai Barca project. That encompasses the redevelopment of Camp Nou, and the surrounding area of the stadium to improve their facilities.

That meeting comes just in time for Barcelona, as the following day is the deadline for the club to close a deal for the financing of the project. President Joan Laporta revealed several weeks ago that the 31st of March was their deadline to close that deal, with the club looking at ways to improve their loan conditions, as pointed out by Diario AS.

With the trouble plaguing the banking system, SVB and Credit Suisse causing fear in markets, and the trouble over El Caso Negreira plaguing Barcelona, it is not yet clear how these events will influence matters.

Barcelona currently have an agreement for a €1.5bn loan with Goldman Sachs at an interest rate of 6% currently, due to run for 26 years. They have sent a questionnaire for Barcelona to answer about the scandal, and want assurances on how this could affect them in terms of potential sporting sanctions.

The uncertainty could have dramatic effects on the future of Barcelona over the short-, mid- and long-term. If they do not manage to push through the Espai Barca project, it would represent a major setback to their plans, with Camp Nou in desperate need of renovation.

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