BARCELONA, Spain (AP) — The impact of the coronavirus pandemic has cost Barcelona more than 200 million euros ($234 million) in revenue, the club said Monday.

Barcelona reported losses of 97 million euros ($113 million) for the 2019-20 season, blaming the deficit on “the effects of COVID-19.”

The Catalan club said its revenues reached 855 million euros ($1 billion), but they would have been 203 million euros ($238 million) higher in a “scenario without COVID-19,” which would have allowed the club to reach the planned milestone of 1 billion euros ($1.2 billion) in revenue.

Without the pandemic, the club said it would have closed the year with a profit of 2 million euros ($2.3 million).

Barcelona said “efforts to control and reduce spending to cover for the lost revenue” saved the club 74 million euros ($86.7 million).

The club also announced a new financing model for the renovation of the Camp Nou, with a formula that “protects all current financial assets and land owned” by Barcelona.

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