The coronavirus pandemic has heavily impacted finances in football throughout Europe. However, Barcelona and Real Madrid are having arguably the most difficulty in dealing with the lack of finances pouring in.
Madrid recently announced their financial projections for the 20/21 season, which is set at an eye-watering €637 million. While the numbers might be staggering for the casual viewer, Madrid maintain that this projected figure is less than €300 million than the assumed figure if the pandemic didn’t hit.
In other words, had things been normal, and finances had not been impacted as badly as they were, Madrid would have had about a billion Euros to work with this season.
Los Blancos lost about €106 million in revenue, despite which, the club managed to settle the financial year with a profit of €313,000.
The club is currently working on renovating the Santiago Bernabeu stadium to increase its capacity for when fans are allowed back into stadia.
Barcelona, on the other hand, have not been holding up too well. While their fierce rivals managed to report a profit despite a major lack of income, the Catalonians reported a loss worth €97 million, in stark contrast to their projections of profit worth €11 million. The club reported a decrease in finances worth €203 million in 19/20.
As per the latest reports coming out of Barcelona, interim President Carlos Tusquets has confirmed that Barcelona players and other staff will not receive their payment for the month of January despite managing to agree on a wage reduction worth €200 million in gross total, including outgoing transfers.
Madrid’s players, on the other hand, are currently suffering a 10% pay cut and are still managing to pull through with running the club smoothly.
The financial management on Madrid’s side looks decent enough for the club to make it through the pandemic. However, the same cannot be said for the Blaugrana.