Rui Costa ‘to seek’ JP Morgan backing for €295m Benfica project | OneFootball

According to Bloomberg on Wednesday 14 January, Benfica are in advanced talks with JP Morgan to secure financing for the Benfica District and a major overhaul of Estádio da Luz.

The financing package could reach €295 million in total. Stadium renovations, aimed at lifting capacity to 80,000, are estimated at about €75 million, with construction of the sports city around €220 million.

Specific terms of any prospective partnership have not been disclosed, including interest rates and the length of any deal.

Members recently approved the Benfica District at a General Assembly, with almost 60% voting in favour, allowing the board to actively seek investors.

In the same session, Nuno Catarino said project costs would be covered by revenue generated by the development, projecting gross annual income of €37 million. That business case underpins Rui Costa's push to attract international banking investment.

Source: Glorioso 1904