Barcelona dealt financial blow as decision to play away from Camp Nou confirmed

Barcelona are braced for a fresh financial hit of £17million as their move away from the Camp Nou for the 2023/24 campaign has been confirmed.

The city's Olympic Stadium - also known as the Estadi Olimpic Lluis Companys - will play host to Barca's home matches during the 2023/24 season. With a current capacity of 60,713 seats, the stadium which hosted the 1992 Olympic Games is the second largest in Catalonia and fifth in Spain.

The redevelopment of the Camp Nou comes after their El Clasico rivals Real Madrid commenced the renovation process of their Santiago Bernabeu stadium; which saw Los Blancos play at their reserve Castilla side's stadium for the 2020-21 campaign.

Barca believe the works to the Camp Nou and surrounding area have the potential to generate an additional revenue of £160million per season for the club once complete. Barca's project - known as Espai Barca - coincides with the club selling the naming rights of their stadium to Spotify.

Spotify - the music streaming service - will be on the front of the men's and women's shirts for the next four seasons, on Barca's training shirts for the next three campaigns and, most notably, the club's stadium will be named Spotify Camp Nou.

Yet the stadium will not be in use for the entirety of the 2023/24 campaign, with Barca having to relocate in the city. A report in Marca outlines how this will cost the club a hit of £17million, which will focus on ensuring the Olympic Stadium can accommodate up to 55,000 fans and comply with regulations on hosting matches.

Have Your Say! How long will it take Barcelona to return to Europe's elite group of clubs? Tell us what you think here.

Barca club president Joan Laporta has said: "Thank you for letting us share the Olympic spirit of the city of Barcelona. It is an honour, a privilege, and a source of pride. We will play here during the works at Espai Barca, which we will start this summer.

"We have enormous words of gratitude for the facilities that have been given to us. We have committed to adapting the Olympic facilities to ensure comfort on match day, and we will modernise some spaces and services, such as the press facilities, the changing rooms and an internal parking area.

"But the facilities are very good, in very good condition. We will have to facilitate access to 55,000 people, so we will have to reinforce public transport with a mobility plan and improve the environment."

Jaume Collboni, deputy mayor of the Barcelona City Council, added: "I think this is the best way to celebrate 30 years of the Olympic Games in the city. We are honoured and proud to welcome Barcelona to the stadium."

The Olympic Stadium was initially opened in 1929 before being renovated ahead of the Barcelona Olympics in 1992. It last hosted a major football game in September 2008, as England defeated Andorra 2-0 in a World Cup qualifier.