Barcelona Have Lost Over €300 million due to COVID-19 Pandemic

Spread the love

Spanish giants, FC Barcelona, have confirmed that due to the coronavirus pandemic, the club has lost around €300 million.

According to reports, this has forced the Catalan club to make a number of adjustments to their budget for the new season.

Barca was on course to become the first football club to break €1 billion in annual revenue prior to the outbreak of the pandemic in March.

Barcelona
Barcelona celebrates goal against Villareal

However, since the virus broke out, which ultimately brought a halt in footballing activities for three months, the club has taken a €300 million hit.

The loss of match-day revenue, alongside the closing of the club’s museum and club shops which bring in millions of euros every year led to a huge dip in the club’s yearly revenue.

Barcelona has estimated a potential 30% reduction to their expected income of around €1bn for the 2019-20 campaign, which will undoubtedly tell on their budget moving forward.

This loss will affect the club’s dealings in the transfer market and it is reported that newly appointed head coach Ronald Koeman won’t be able to make new additions except they sell some players.

The club has said that some measures have been drawn up to help cut spending, with belief that normal transfer activities will resume at the start of 2021.

Barcelona will try to reduce their spending by reducing their wage bill by selling off big earners, with the likes of Luis Suarez, Arturo Vidal and Samuel Umtiti expected to join Ivan Rakitic as those to exit the Camp Nou this summer.

They, however, managed to keep hold of their star player and highest earner in Lionel Messi after he attempted to secure a move away for free last month.

Messi celebrates against Napoli

The Argentine forward, in an interview with Goal, confirmed last week that he would see out the end of his contract and remain at the club where he has spent his entire career.

Speaking on the Messi’s decision, head coach Ronald Koeman revealed he was excited about the prospects of working with the club’s top-scorer.

He said: “It’s great, everyone knows he’s the best player in the world, so to have that player in your team is exceptional,” Koeman told the club’s official media channel on Friday, speaking for the first time since the Messi saga began.

“For us it’s now very important to have Leo in the best conditions to play, there’s no question about his quality and it’s fantastic that he’ll be part of the season with Barcelona, everyone is really happy about that.”