Why Barcelona pauses Camp Nou stadium financing?

FC Barcelona has paused a €1.5bn fundraising after balking at the terms of the deal amid an increase in US borrowing costs, forcing the football club to weigh up alternative financing arrangements, according to three people with knowledge of the plans. Barcelona decided to halt the financing of the Camp Nou stadium makeover, following the increase in the costs required to be raised in the United States due to inflation. The deal was meant to be priced late last week, one of the people said, but negotiations with private investors stalled as a flurry of recent inflation data pushed up US borrowing costs to 2007 levels. The Financial Times, the world’s leading global business publication indicated that "The Blaugrana retracted the agreement, as it wanted to ensure better conditions for the return of investment." The Espai Barça project is a large-scale infrastructure redevelopment project to improve (and expand) all of the Spanish professional football club FC Barcelona’s infrastructure including their training facilities, Camp Nou Stadium, Palau Blaugrana, the club’s offices as well as the commercial and leisure facilities. Camp Nou is a football stadium in Barcelona, Spain. It opened in 1957 and has been the home stadium of FC Barcelona since its completion.  The fully overhauled 105,000-seater would have been ready by now. And right now the scenario is that work hasn’t even started. The makeover process at the Camp Nou Stadium is being supervised by Goldman Sachs, JPMorgan, and K Capital.