scorecardresearch
Follow Us:
Thursday, October 22, 2020

Barcelona says coronavirus pandemic impact cost the club $238 million

Barcelona reported losses of 97 million euros ($113 million) for the 2019-20 season, blaming the deficit on “the effects of COVID-19.”

By: AP | Barcelona | October 5, 2020 9:38:16 pm
BarcelonaBarcelona's Lionel Messi with teammates. (Source: AP)

The impact of the coronavirus pandemic has cost Barcelona more than 200 million euros ($234 million) in revenue, the club said Monday.

Barcelona reported losses of 97 million euros ($113 million) for the 2019-20 season, blaming the deficit on “the effects of COVID-19.”

The Catalan club said its revenues reached 855 million euros ($1 billion), but they would have been 203 million euros ($238 million) higher in a “scenario without COVID-19,” which would have allowed the club to reach the planned milestone of 1 billion euros ($1.2 billion) in revenue.

Without the pandemic, the club said it would have closed the year with a profit of 2 million euros ($2.3 million).

Barcelona said “efforts to control and reduce spending to cover for the lost revenue” saved the club 74 million euros ($86.7 million).

The club also announced a new financing model for the renovation of the Camp Nou, with a formula that “protects all current financial assets and land owned” by Barcelona.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Sports News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement