Spanish football club, Barcelona FC commonly called Barca, has announced financial losses of €97 million(£88m/$114m) for the 2019-20 football season, blaming the Covid-19 pandemic, and confirmed that their total debt doubled to €488m.
Barca had hoped to become the first club to break €1bn in revenue last season but was hit hard by the COVID-19 pandemic.
A statement released by the club on Monday October 5, reads: “FC Barcelona has not been immune to the outbreak of Covid-19, but its consequences have had a massive effect on the entire sports industry.
“There has been widespread loss of revenue among all clubs in all the major leagues due to the restrictions that had to be applied to curb the spread of the disease, including competitions first being suspended and then resuming but with matches being played behind closed doors.
“The ECA [the European Club Association] has estimated the overall loss at around €4bn (£3.6bn/$4.7bn) and Barca, as one of the largest clubs in Europe and with such extensive diversification of its income, is one of the most affected.
“The club suffered financially from the consequences of games being played behind closed doors, as well as the total cancellation of the basketball Euroleague, and hence there was a considerable loss of income.
“The lack of tourists and visitors to the city of Barcelona due to the reductions and limitations applied to international tourism also meant far fewer visitors to Barca’s premises, meaning major losses in terms of such areas as visitors to the Camp Nou Experience and the sale of products in official stores.”
Among other losses, Barca explained that they lost €47m in matchday revenue, €35m in sales at the club shops and €18m in ticketing from the museum based at Camp Nou.