Barcelona’s accounts presented a loss of €481m (£409m) for the end of the 2020-21 financial year.
In August, Barcelona president Joan Laporta opened up on the “very worrying” financial situation when revealing the club are €1.35bn (£1.15bn) in debt.
A summary of their accounts at the closure of the 2020-21 season shows the club recorded a 26 per cent, €224m (£191m), drop in revenue from the previous year, citing the impact of the coronavirus pandemic as a primary reason.
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Barcelona said the estimated impact of Covid-19 is €181m (£154m), mainly due to the inability to open both the stadium and other club facilities.
Operating expenses increased by 19 per cent to €1.136bn (£967m), an all-time record figure at the club, while transfer income was €56m (£48m), a decrease of €92m (£78m).
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Spanish football expert Semra Hunter believes Barcelona president Joan Laporta is struggling to find a suitable replacement for manager Ronald Koeman, while the club may also have to pay the Dutchman €12m (£10.3m) if he is sacked
Barca CEO explains club’s Super League support
Barcelona’s CEO has said the club supported the European Super League to enforce tighter financial controls on teams as UEFA’s financial fair play (FFP) model plays into the hands of state-backed clubs such as Paris Saint-Germain and Manchester City.
UEFA launched the FFP regulations in 2009 to aim to stop clubs running big losses through spending on players although the organisation relaxed the rules following the COVID-19 pandemic, removing the obligation to break even.
The rules came under scrutiny following Qatari-backed PSG’s transfer activities last summer, in which they signed Barca’s all-time top scorer Lionel Messi as well as Sergio Ramos, Gianluigi Donnarumma and Georginio Wijnaldum on free transfers while paying huge wages to beat their rivals to the players.
Abu Dhabi-controlled City, meanwhile, paid a Premier League record £100m to sign Jack Grealish from Aston Villa.
Debt-ridden Barca, by contrast, were forced to slash their wage bill this summer due to La Liga’s far stricter financial regulations. They have been allocated a maximum budget of €98m (£83m) for this season, a huge drop from €347m (£295m) last campaign.
“For us the Super League was about creating a more attractive competition oriented around the issue of FFP. We have to make a deep reflection on what happened this summer,” Ferran Reverter told a news conference on Wednesday.
“UEFA is opening the door for clubs to inject money and the spending ratios are going wild. Along with La Liga, we believe in a more sustainable model. If UEFA keeps going down this path it will favour the state clubs while damaging Barca’s brand.”
UEFA did not immediately respond to Reverter’s comments.
President Aleksander Ceferin told the European Club Association last month UEFA was looking at a new model of financial control, without giving details.
“It is time to question the old ways and the traditional measures,” he said. “It is now time to seriously work together to put in place a true direct cost control system.”
Barcelona, Real Madrid and Juventus are the only remaining supporters of the Super League, which was announced in April but quickly unravelled following the withdrawal of the six English clubs and then Atletico Madrid, AC Milan and Inter Milan.