Barcelona says pandemic impact cost the club $238 million

Posted October 05, 2020 7:00 am

The Associated Press

BARCELONA, Spain (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 'œthe effects of COVID-19.'ť

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 'œscenario 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 'œefforts to control and reduce spending to cover for the lost revenue'ť 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 'œprotects all current financial assets and land owned'ť by Barcelona.

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