Barcelona Blame Coronavirus For 97 Million-euro Loss

Barcelona, Oct 5 (UrduPoint / Pakistan Point News - 5th Oct, 2020 ) :Barcelona lost 97 million Euros ($114.3 million) last season due to the coronavirus pandemic, according to the financial results presented by the Catalan club on Monday.

"The effects of Covid-19 mean that we have 200 million euros less in income, net losses which amount to 97 million and that we do not have the 11 million in profits that we forecast," said Jordi Moix, one of the club's vice-presidents.

Barcelona had budgeted 1.047 billion euros in revenue for the 2019/2020 season, but the pandemic meant that they only earned 855 million euros, 203 million down on expectations.

Faced with the drop in revenue, the club tried to reduce its expenses, managing to save 74 million euros.

That figure includes 42 million thanks to the 70 percent salary cut agreed with the players, 30 million on management fees and two million linked to lower salaries for non-sporting personnel.

Last month Forbes magazine revealed that Lionel Messi was the best paid footballer in the world in 2020 with an income of $126 million from his club salary ($92 million for the 2020/2021 season) and $34 million from sponsors and other sources.