Barcelona loses 203 million euros due to Covid and will again cut the salary of its players

The Covid-19 crisis allows the financial metaphor to unleash.

, Barcelona's economic vice president, endorsed the following: "We are on a ship in the middle of a storm. Important. Serious. But not definitive. What we have to do is row and stabilize the boat to bring it to a good port."

In short, to re-balance an income statement that the pandemic has left badly hurt, even at the cost of affecting one of the most delicate areas of a football club: the sa

lario of his players.

"There have not yet been formal contacts, but it is common sense that with what we are living all over the world, we have to take some kind of measure." The closing of the 2019-20 financial year of Fútbol Club Barcelona, ​​audited without qualifications but still pending approval by an assembly of delegates of uncertain celebration, it does not offer doubts about past hardships.

But also of those that will come next.

The club has presented net losses of 97 million euros including taxes and financial expenses (when it had budgeted a profit of 11 million) and has entered 855 million euros, 192 million less compared to the advertised 1,047 that the directive of

In pre-pandemic times, Barcelona had even raised its predictions and expected to have entered 1.059 million last year, thus putting the impact of Covid-19 at 203 million.

And this is how he reels it: 47 million lost due to having the stadium closed to the public since March 2020, 35 million due to the closure of stores, 18 million due to the time the club's museum was closed and the subsequent fall in visitors, Another three million in events to be carried out at the Camp Nou, 35 million more in television rights as the League and Champions season has already concluded in this new financial year, 37 million in sponsorship and the absence of summer tours, and another 29 millions that the club expected to have raised in transactions of footballers before June 30.

Sports payroll of 636 million

Barcelona tried to control expenses (it reduced them by 74 million euros), especially with the reduction of sports salaries, from which it managed to start 42 million euros after the turbulent negotiations carried out by President Bartomeu and the CEO of the entity,

Òscar Grau

, with the captains of the Barça first squad.

Then, the squad captained by

Leo Messi

he attacked the board of directors on the grounds that they had been pressured with leaks to the press.

The sports payroll could be closed at 636 million euros (compared to 671 million for the 2018-2019 financial year).

But it is not enough. "Everyone has to make an adjustment of the expenses with respect to their income. We have to balance the accounts with the tools that the club provides us," the economic vice president of Barcelona warned this Monday, without wanting to enter details of how they will be able to reach new salary agreements with their players.

The 'Mirotic formula'

In the basketball section, for example, a formula has already been established to continue exploring: the extension of contracts in exchange for spacing out payments.

Niko Mirotic

, the star of the team, renewed on September 25 until June 30, 2025 (his contract expired in 2022, with the option of one more season).

If he complies with the new relationship, he will do so at the age of 34.

"It is a part of the measures with which we are working in the adjustments on the wage bill," assumed Moix. The situation is dire.

The debt already reaches 820 million euros (488 after subtracting the treasury and the amounts pending collection from other clubs).

Furthermore, Bartomeu's board of directors has ceased to comply with the statutory mandate (article 67 of its constitution) to maintain a net debt / EBITDA ratio below 2.0.

It already reaches 3.64.

"We have not brought the seven plagues"

"But we have not brought the seven plagues from Egypt. Common sense tells us that an impact as important as the one we are having with this global health crisis is not the fault of this board," Moix rebelled against the possibility that the future president of Barcelona could carry out a liability action against the current leaders, despite the fact that they still have a cushion of 96 million euros since the directive of

Sandro Rosell

He began his journey at the club in 2010. In any case, Barcelona did not see fit to present a budget for this 2020-21 season.

Only a very optimistic estimate in which the Camp Nou could already occupy 25% of the capacity next December (UEFA will already accept 30% in the Champions League, but not the professional competitions in Spain), and reach the 100% occupancy in February.

According to that Barça forecast, the club could reach up to 791 million euros in income (even 64 million less than in this first year 2019-20 of the pandemic).

Nothing said about the expenses that could be incurred.

The doubts of Espai Barça

The execution of the call also presents many doubts

Espai Barça

, for which the Bartomeu board of directors, among other real estate actions, intends to remodel the Camp Nou (the building permit will not be obtained at least until next December) and build a new Palau Blaugrana. Everything continues to happen through the partners approve via referendum the new financing of a project that has cost 815 million euros (725 million in the payment of the work and another 90 in interest and initial financial costs), compared to the 600 million to which the social mass had given the go-ahead through a consultation in 2014. An extra cost that the Barça club argues based on the compensation to the Barcelona City Council (50 million), the "evolution" of the projects and the increase in the capacity of the Palau (60 million) , and an "improvement" of the services that the new Camp Nou can provide. Everything goes through the financing of the fund

Goldman sachs

, with whom it is expected to sign a 30-year contract (five for construction, another 25 for management in which the club should pay off the loan) and to whom Barcelona will sell part of the collection rights of the 150 million euros of the incremental income that, according to the club, the project should generate upon completion.

Game that the entity divides into 50 million in new visitors, another 50 in VIP boxes and new 'hospitality' opportunities, and the remaining 50 in the 'titles rights' (that is, the surname of the stadium) and the new sponsorship assets .

The Barça entity, yes, promises that of the aforementioned 150 million generated by Espai Barça, 100 will remain for the ordinary use of the club "to invest the surplus in being stronger and more competitive." "But I want to give a message of optimism "Moix insisted, while muttering:" Taking into account this horizon. And that we find the vaccine as soon as possible. "

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