COVID-19: Barcelona Forfeits 97 Million Euros

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According to the financial results presented by the Catalan club, it was revealed that Barcelona has forfeited 97 million euros (equivalent to $114.3 million) last season as a result of the coronavirus pandemic.

The financial result which was presented on Monday, October 5, depicted that Barcelona had budgeted 1.047 billion euros in revenue for the 2019/2020 season. However, the pandemic negatively influenced the amount planned, which resulted into the earning of 855 million euros, 203 million down on expectations.

In an effort to combat the drop in revenue, the club attempted to reduce its expenses and managed to save 74 million euros.

The aforementioned amount was saved as a result of a mutual agreement with players who accepted a 70 percent salary cut and also the non-sporting personnel. 30 million and two million were respectively deducted from the categories.

“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.

Meanwhile, Forbes magazine disclosed last month 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.