FC Barcelona released a report at the end of the financial year on 1 October that shows the Catalan club has made an operating revenue of 631 million euros for 2020/21, representing a 26% drop from the 855 million euros for the previous season.
At the same, Barca's expenditure increased by 19% compared to the previous year, rising from 955 million to 1.136 billion euros, marking the highest ever point in the club's history.
"The 2020/21 financial year closed with operating revenue of 631 million euro, well below the 828 million set in the budget, which also forecast a profit after tax of 1 million euro. Ultimately, the outcome was a loss of 481 million euro after tax, derived from the drop in income and the amount of expenditure", a statement published on the club's official website read.
Earlier this year, FC Barcelona announced it was facing a heavy debt crisis that followed after years of alleged mismanagement, with Barcelona President Joan Laporta accusing the club's former President Josep Maria Bartomeu of spending "too much and at the speed of light".
The club has thus been struggling financially and had to allow multiple players, including six-time Ballon d'Or winner Lionel Messi, leave for other clubs last month.
In August, FC Barcelona obtained a loan of 455 million euros for 10 years with an interest rate of 1.98% through the Goldman Sachs investment fund in order to improve the club's financial situation.