SAN FRANCISCO, November 28, (THEWILL) – The management of La Liga side Barcelona have reached an agreement, in principle, with their squad over a wage cut that will save them €122million.
The Blaugrana are seeking to cut their wage bill to avoid running into a financial crisis due to losses suffered as a result of the coronavirus pandemic.
On Friday, in a statement made public, Barcelona confirmed they had reached an agreement in principle with players at the club.
They also said variable payments of about €50m had been deferred over a three-year period, in addition to the €122m in savings.
“The agreement, if it is ratified, will be a milestone of great importance to redirect the current economic situation,” the statement read.
A ratification by the players and coaches affected is required for the agreement to become effective.
Barca has one of the highest wage bills in Europe. Considerations of reducing the strain this had placed on their finances led to the likes of Luis Suarez, Ivan Rakitic and Arturo Vidal moving to other clubs in the recent transfer window.
They also face challenges on the performance front and in the injury department. Ronald Koeman’s side are struggling in the unfamiliar position of 13th in La Liga ahead of hosting Osasuna on Sunday with players like defenders Gerard Pique and Sergi Roberto and forward Ansu Fati still sidelined by injuries.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
