As part of the cost-saving measures taken due to the ravaging COVID-19 pandemic, Barcelona has agreed €122m in pay cuts in their salaries for the next three years.
The Blaugrana were forced to slash salaries amid the pandemic as fans are not allowed into the Stadium. This has made the debt suffered by the Catalan club to be over 600m Euros.
Barac was forced to sell some players like Suarez in order to reduce their wage bill. Before agreeing at the pay cuts, the club had to renegotiates with players and other staff of the club as COVID-19 continues to hit the European countries hard. Howwver, Barca will still pay out €50 million over the next three years in wage packets.
❗ Joint statement from the FC Barcelona salary negotiation table— FC Barcelona (@FCBarcelona) November 27, 2020
ℹ The details: https://t.co/KQlUFUnbRc
Barcelona have reached an agreement with their playing squad to slash salaries by €122 million (£110m/$146m) over the next three years, the club has confirmed.
However, the Blaugrana will still pay out €50 million (£45m/$60m) per season during that period on wage packets.
In abid to avoid them being bankrupt, La Liga imposed a lower salary cap upon them last week. COVI-1I9 has left the Blaugurana in a difficult financial situation.
Barcelona reached out to Messi and co to trim own bill
After negotiations over some weeks with key figures such as Lionel Messi, Antoine Griezmann, and coach Ronald Koeman – and having seen discussions suspended on multiple occasions – Barca was able to confirm a plan for the foreseeable future that will see them trim their bills.
“Today, the parties have reached an agreement in principle that allows an adjustment to salaries for the current season,” the club confirmed Friday in a statement.
“[This is] for an amount of €122 million [in] fixed remuneration, which is added to the deferral for three years of variable remuneration from this season [onward], budgeted at an approximate figure of €50 million.
“This principle of agreement is pending ratification in the coming days by the group of players and coaches affected.
“The agreement, if it is ratified, will be a milestone of great importance to redirect the current economic situation.
“That both parties recognize the great effort that has had to be made to reach this principle of agreement, [they should] congratulate themselves for it.”