Barcelona announce €481m loss for 2020-21 financial year
Barcelona have released details of the club's accounts following the conclusion of the 2020-21 financial year.
Barcelona recorded losses of €481million for the 2020-21 financial year, the club announced on Wednesday.
After a tumultuous year, which ended with Lionel Messi leaving the club as the Catalans could not afford his contract, Barca's revenue was €631m. This fell well below the €828m set in the budget.
With expenditure of a record €1.136billion, up from €955m, Barca posted an operating loss of €505m, a net loss of €555m and a post-tax loss of €481m.
The Blaugrana cited "falling revenues and the inability to contain spending" during the coronavirus pandemic.
However, Barca acknowledged they had calculated their loss even without the pandemic at €390m.
Their net debt subsequently stood at €680m, according to LFP criteria, although €122m of this was due to the investment in the Espai Barca project, which is renovating club facilities. Barca's bank debt was €533m.
