Barcelona Accepts Wage Cut to Save the Club £110m
Barcelona’s players have all agreed to wage cuts so as to help the club recover from the pandemic experience. The wage will help Barcelona save up to122m euros (£110m). The 26-time La Liga champions have also agreed with their players to have about €50m (£45m) of variable payments deferred over a three-year period.
Their last accounts showed a 97m euros (£87m) loss while the net debt more than doubled to 488m euros (£438m). The club released a statement which said: “[This] will be a milestone of great importance to redirect the current economic situation.”
In March, Barca players agreed to take a 70% pay cut during the coronavirus pandemic and make additional contributions to ensure non-sporting staff received full wages. Presently there are running out of cash and they need the wage cut to keep the club going.