Barcelona's financial crisis deepens after Europa League disaster

Unfortunately for FC Barcelona, their season did not go as planned as far as European competitions are concerned. The early exits in both the UEFA Champions League and Europa League have slashed their projected income for the season, meaning they will head into 2023-24 with significantly more financial problems than they would have hoped.

It may be remembered that the Blaugrana sold off numerous assets at the start of the season to generate cash injections. They also made a number of tactical calls during the transfer window and slashed salaries of club employees and players alike. They were hoping for better results on the pitch this season, which would help generate more revenue that they could take into the next campaign. Alas, such has not been the case in Europe.

On Thursday, Barcelona crashed out of the Europa League playoffs after losing 4-3 on aggregate to Premier League side Manchester United. It is nothing short of a disaster, especially after the embarrassment of having been booted out of the Champions League in the group stage.

The Catalan giants had been counting on at least a quarter-final finish in the Champions League, which would have generated a windfall of at least £18 million (€20m). All was not lost when they had to drop down to the Europa League, where a victory in the competition could have earned them something in the region of £17.7 million (€14.4m) in prizemoney and other bonuses as projected by Diario AS.

That means they could have made up a majority of the deficit from the Champions League exit had they won the Europa League. However, after another early exit, all that money is gone with the wind.

La Liga president Javier Tebas estimates that the club needs to make up a whopping £177 million (€200m) deficit if they wish to be able to take part in the summer transfer window freely.

The loss of income from European competitions is a massive blow for the club, and it does not help that fresh scandals are exploding in their faces. The latest concerns the "Caso Negreira," where the club is being investigated over payments made to the former vice president of the Technical Committee of Referees of La Liga.

The light at the end of the tunnel is that Barcelona are currently leading La Liga by eight points. A victory in the competition will ease some of the financial burden, and will keep the spirits up in the dressing room as well as in the stands.