Barcelona players agree to pay cuts worth £110m
Barcelona players have agreed to pay cuts worth €122m (£110m) as the club looks to recover financially from the coronavirus pandemic.
The Spanish giants currently have the highest wage bill in world football but Lionel Messi and his team-mates have agreed to reduce their salaries for the rest of the 2020-21 season.
As well as the initial hefty saving, the club have also deferred €50m (£44.9m) of variable payments over a three-year period.
A club statement read: “This principle of agreement is pending ratification in the coming days by the group of players and coaches affected.
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“The agreement, if it is ratified, will be a milestone of great importance to redirect the current economic situation.
“Both parties recognise the great effort that has had to be made to reach this principle of agreement and congratulate themselves for it.”
Earlier this year, when the Covid-19 pandemic first hit Europe, Barca’s players agreed to a 70-per-cent pay cut and pledged donations to help the club’s non-sporting staff continue to receive their full wages.
Barca released a financial report in October which stated they had lost €97m (£88m) due to the impact of coronavirus.
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