Benfica and JPMorgan Said to Hold Talks on Lisbon Stadium Revamp

Portuguese football club Benfica is sounding out banks including JPMorgan Chase & Co. on a plan to raise funds to renovate its Lisbon stadium and develop the surrounding area, according to people familiar with the matter.

Talks between Benfica and the US lender are in the initial stages and may not result in a mandate, the people said, asking not to be identified because the discussions are private. JPMorgan has in recent years been the bank of choice for Benfica rivals Sporting CP and FC Porto, helping the clubs raise funds via private bond sales.