November 16, 2020

Barcelona announce EUR97m is losses, blame COVID-19 for EUR203m reduction in earnings

Barcelona announce EUR97m is losses, blame COVID-19 for EUR203m reduction in earnings

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Barcelona have actually revealed losses of EUR97million for the 2019-20 economic year and blamed the coronavirus pandemic for a EUR203m decline in earnings.

The Catalan club completed the year with earnings of EUR855m, which they said could have been a record-breaking EUR1.059 billion were it not for the COVID-19 outbreak.

Barca reduced their costs by EUR74m however still suffered considerable losses.

though the extension of the season beyond June 30 suggested profit and loss items from completion of the season were moved to the 2020-21 monetary year.

There would have been a profit of EUR2m instead of a loss of EUR97m had it not been for the pandemic, according to Barca.

A club statement read: “FC Barcelona has actually not been unsusceptible to the break out of COVID-19.

however its repercussions have actually had a huge effect on the entire sports market
with widespread losses of revenue among all clubs in all the big leagues
due to the limitations that had actually to be applied to suppress the spread of the illness.

consisting of competitions first being suspended and after that resuming but with matches being played behind closed doors.

” ECA [the European Club Association] has estimated the general loss at around 4 billion euros and Barca, as one of the largest clubs in Europe and with such comprehensive diversification of its income, is one of the most affected.

” The club suffered financially from the consequences of matches being played behind closed doors, as well as the overall cancellation of the basketball Euroleague, and hence there was a substantial loss of income.

” The absence of tourists and visitors to the city of Barcelona due to the reductions and limitations used to international tourist also meant far fewer visitors to Barca’s properties, suggesting major losses in terms of such locations as visitors to the Camp Nou Experience and the sale of products in main shops.”

Barca are provisionally approximating EUR791m in revenue for the 2020-21 fiscal year.