37 minutes agoThe staggering sum: Barcelona reports 97m euros loss, 488m euros debt
Periskopi(6 years ago)
(6 years ago)Barcelona Vice President Jordi Moix on Monday has presented details of the club's accounts corresponding to the 2019/2020 season, which was marked with an economic downturn as a result of the coronavirus pandemic. The crisis has caused major losses at the Catalona club, as revenues were very small compared to seasons [...]
The crisis has caused major losses at the Catalona club, as revenues were very small compared to preliminary seasons.
Some 800,000 cases of COVID-19 and 32,000 dead in Spain have been recorded, negative GDP for 3 percent (which has not occurred since World War II), and a 65 - percent decline in tourism.
All of this has affected the activities of football clubs, in this case of Barcelona. Blaugrans have earned 192m euros less than they had budgeted. The club was hoping to earn a billion and 47m euros, but has earned only 855m euros (so 192m euros less).
Barca has registered losses of 97m euros, while the club's debt is 488m euros (appro double last season). For this reason, directors have been forced to lower salaries for 42m euros in total, as well as to take other measures by reducing spending for 30m euros.
They have calculated that the budget for the 2020/2021 season will be 791m euros, provided some optimistic circumstances occur, such as the return of some of the fans to the stadiums in November (25 per cent of the budget) and the full completion of Camp Nou from February 2021.
In the past, Barca vice president has also made comparisons with the financial losses of other major European clubs, Juvenus, has reported losses of 71m euros, while Manchester Unitedi has lost 110m euros in the season we left behind.
