Barcelona, 28 November 2020 (dpa/MIA) – Barcelona said Friday that players had “agreed in principle” to a pay cut of 177 million euros (206 million dollars) to ease the club’s massive financial problems caused by the coronavirus pandemic.
The pay cut includes a reduction of 122 million euros in “fixed pay” and the deferral for three years of a further 50 million euros in “variable remuneration,” Barca said.
But in a statement they added: “This principle of agreement is pending ratification in the coming days by the group of players and coaches affected.”
The Catalan club have made no secret of anticipating a 300 million euro reduction in income this season because of the huge fall in revenue caused by the loss of match day income and the reduction in money generated by the club shops and museum.
Last week La Liga announced the club could only spend 383 million euros on wages, a 43 per cent reduction on their allowed salary budget set at the start of last season.
Negotiating with players has been difficult but Friday’s statement suggested they feel they are close a definitive wage cut.
The statement added: “The agreement, if it is ratified, will be a milestone of great importance to redirect the current economic situation.”
Barcelona have made an inconsistent start to the season, losing three of eight games in the domestic league under new coach Ronald Koeman. They host Osasuna on Sunday.