Catalonian giants FC Barcelona announced a loss of $566 million in the last financial year.

Luuk de Jong FC Barcelona
Barcelona lost 3-0 at home to Bayern on the opening night of the Champions League campaign. (Image: Twitter/fcbarcelona)

Barcelona’s financial problems are well known, with the club asking its top earners to lower their salaries and losing Leo Messi because of the complicated economic reality. The Blaugrana also had trouble registering their new signings, and fought hard in the past two months to comply with the Spanish League’s new money regulations.

A statement from Barcelona confirmed the dimension of the financial disaster.

“The board of directors has approved the closure of the financial year for the 2020-21 season with losses of €481 million ($566 million),” the media release read.

For the 2021-22 campaign, Barcelona is operating on a $900 million budget, while its current total debt stands at $1.53 billion.

Barcelona lost 10 players this summer

Over the previous transfer window, Barca lost Messi and Antoine Griezmann while also letting eight other players go. The most important names are those of Emerson Royal, whom they had just acquired from Betis, promising youngster Ilaix Moriba, Bosnian midfielder Miralem Pjanic, and Portuguese forward Francisco Trincao.

Royal was sold to Tottenham and Moriba left for RB Leipzig, while Pjanic and Trincao got sent out on loan to Besiktas and Wolves, respectively. In return, Barcelona signed Memphis Depay from Lyon, Sergio Aguero from Manchester City, Luuk de Jong from Sevilla, and Yusuf Demir from Rapid Vienna. Depay and Aguero were signed as free agents, while de Jong and Demir were loaned in.

Barcelona won seven points from its first three games in La Liga, but lost badly to Bayern Munich, 0-3, at home in the opening round of the Champions League group stage.

Barcelona is the third-favorite to win La Liga this season behind Real Madrid (+110) and Atletico Madrid (+250). Barca is now at +275.

In the Champions League, they’re nowhere near the top; the Catalonians sit at +2500, being only the eighth in line to lift the trophy after PSG, Manchester City, Bayern Munich, Chelsea, Liverpool, Manchester United, and Real Madrid.