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The dire financial position Barcelona find themselves in has been revealed with the club recording a €481million loss for last season.

It's no secret that the Catalan giants have been majorly struggling amid the coronavirus pandemic but the full extent of their problems has been disclosed.

The club revealed that they lost more than £409m in the 2020-21 campaign after revenue decreased and expenses went up.

The LaLiga outfit's revenue dropped by 26 per cent with just €631m compared to €855m the season before as fans were shut out from games with the stadium unable to open, given the Covid crisis.

Barcelona are reliant on football tourism, with stadium tours a big money-spinner and revenue has subsequently plummeted at the Nou Camp with that severely restricted.

While the club's expenses rose by 19 per cent from €955m to €1.14billion despite making savings through players agreeing to take pay cuts.