Wednesday, April 24, 2024

The Spanish league will lose 2 892 million in the 2020-2021 season due to Corona


The Spanish Football League recorded a loss of 892 million euros for the 2020-2021 season, during which the Corona virus erupted, while Barcelona accounted for more than half of the deficit, according to league figures.

Barcelona suffered a 56 per cent loss before the tax was calculated, as economic losses hit Spanish clubs empty stadiums and declining box office revenue.

The association added on Tuesday that player transfers, abbreviated broadcast schedules and a decline in reduced business revenue play a key role.

The league clubs recorded revenues of 3.81 billion euros (approximately $ 4 billion) for the 2020-2021 season, indicating a 24.1% decline from the 2019-2020 season, which was plagued by corona epidemic, but not in its final months.

This is the first time Spanish clubs have recorded a loss since 2012, but the league expects a full recovery over the next two seasons.

“Professional football in Spain has been helped by the high toughness and responsibility crisis of most clubs,” the report said. “Strong recovery is expected in the 2021-2022 season. Things will return to normal in 2023-2024.”

The league’s losses were exacerbated by Barcelona’s poor financial situation, which led to the resignation of its chairman Joseph Bardomeu in October 2020 and Argentine star Lionel Messi leaving Paris Saint-Germain for free last August. Jermaine.

Bartomeu’s successor Joan Laporta said last September that the club’s debt was 35 1.35 billion, while salaries accounted for 103% of its total revenue.

Barcelona have so far opposed the signing of a league agreement with a private equity fund (CVC) that will invest nearly two billion euros in Spanish football and its clubs, in exchange for an 8.2 percent stake in a company that manages the league. Transfer of title for 50 years.

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Five clubs have rejected the deal, including Barcelona and Real Madrid, who have always been adamant about starting the European Super League, which was closed to elite clubs and frustrated by the Continental Confederation (UEFA).

The league said its losses in 2020-2021 “represent a relatively small decline than what professional football has experienced in Europe”.

“According to UEFA … the total revenue decline of European professional football, including player transfer revenue, has reached 10 billion euros,” the report added.

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Camelia Garner
Camelia Garner
"Explorer. Problem solver. Certified reader. Incurable web expert. Subtly charming travel guru. General student. Twitter evangelist."

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