FC Barcelona’s New Stadium – Cam Nou Case Study


FC Barcelona wanted to develop “New Camp Nou” – a state-of-the-art facility that matches its long-term aspirations and on-pitch results. The board needed to determine the right strategy and Legends International was appointed to provide a robust strategy and financial plan to generate the incremental revenues to fund the project, deliver the enhanced experience and critically ensuring it respected the demands of the socios. 



The Legends International team developed three comprehensive business plans, one for each of the options under consideration. The first step was a detailed market feasibility study that included: 

1.    A detailed review of the existing Camp Nou business model 

2.    Stakeholder interviews to understand the cultural, political and constitutional sensitivities of the club 

3.    A broad-based market survey of: 

  • Seasonal ticket buyers & non-seasonal ticket holding socios 
  • Existing hospitality purchasers 
  • Local and regional corporations not currently engaged with the Club 

4.    Price sensitivity and demand analysis related to a range of hospitality seat offerings 

Legends International then undertook an interactive process with the club to develop an optimal specification, full business model and ROI analysis for each of the three options to allow a clear recommendation to the board of FC Barcelona in 2013.  

Further engagements in 2014 and 2017 helped FC Barcelona optimise match-day ticket pricing and upgrade the VIP experience. In 2019, Legends International was subsequently appointed analyse the project for the purposes of bank financing, including a full valuation and strategy evaluation of the sponsorship and partnership assets of the development. 



  • The socios overwhelmingly backed Legends International’s recommendation in 2013 
  • The new 105,000 seat €600M stadium renovation project is now underway, transforming Camp Nou and delivering FC Barcelona’s financial, experiential and social goals 
See also: Feasibility