Sam Marsden Barcelona correspondent 2 Minute Read

Barcelona are in the final stages of negotiations over naming rights for Camp Nou and hope to have an agreement in place before next summer, sources close to the club have told ESPN FC.

The Spanish champions are in talks with American and Asian companies regarding a deal which would go some way to funding the development of their stadium and the Espai Barca project.

Barcelona hpe that an agreement will be in place by the end of the new season, which would allow club members to vote on it at next year's General Assembly.

Barca are hopeful the final deal will be worth around €300 million in exchange for the naming rights to Camp Nou for a 20 year period.

Once agreed -- and if passed by club members -- the sponsor's name will appear after "Camp Nou," effectively becoming the stadium's surname.

The money will go towards the renovation of Camp Nou, Barca's base since 1957, after the club was given the go-ahead for the €600m renovation of their home earlier this year.

Work on the revamp, which will see the capacity increase from 99,354 to 105,000, and the regeneration of the area surrounding the stadium will begin next summer.

It will still be the world's second-largest football arena behind North Korea's Rungrado May Day Stadium, but the extra 5,646-person capacity will push it from 11th to fourth among all stadiums in the world, past six American college football venues and the Melbourne Cricket Ground.

Also as part of the Espai Barca project, the club will benefit from the construction of a new 12,000-capacity multifunctional arena, an ice rink and an upgraded FCBEscola, which will consist of renovated facilities and two football pitches.

Away from Camp Nou, work has already begun on the Johan Cruyff Stadium, located at the club's training ground outside of the city.

The structure is expected to be ready early in 2019 and will be home to the club's B team -- who currently play at the Mini Estadi -- and the women's team.