Connect with us

Sports

Barcelona says coronavirus pandemic impact cost the club $238 million

Published

on

By: AP | Barcelona |

October 5, 2020 9:38:16 pm


BarcelonaBarcelona’s Lionel Messi with team mates. (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 “the effects of COVID-19.”

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 “scenario 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 “efforts to control and reduce spending to cover for the lost revenue” 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 “protects all current financial assets and land owned” by Barcelona.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Sports News, download Indian Express App.

Source link

Continue Reading
Comments

Copyright © 2020 Dagabaaz.com

watch movies hd watchserieshd watch anime free online watch movies free online watch tv series online free free watch movies online myflixer flixtor watch series online free swatchseries soap2day