MADRID (Reuters) - Spain's professional soccer clubs were hit by losses of 892 million euros during the 2020-21 as the COVID-19 pandemic ravaged ticket sales and player transactions, LaLiga announced on Tuesday. The Spanish clubs recorded total revenues of 3.8 billion euros during the 2020-21 season, 24.1% less than the previous one that was also impacted, to a lesser extent, by the pandemic. Spanish clubs invested only 547 million euros on players in 2020-21 compared to the 1.533 billion euros splashed out the season before. New Barcelona president Joan Laporta announced last August that the club's debts totalled 1.35 billion euros, 673 million of which is owed to banks. Since then they approved raising an additional 1.5 billion euros ($1.58 billion) to enable the club to renovate their Camp Nou stadium and its surroundings.

Source: Libya Today May 11, 2022 15:16 UTC