Barcelona players agree to pay cut to save club from collapse
The club will still be looking to offload squad players in January
FC Barcelona have come to an agreement in principle with the playing squad to renegotiate their salaries as the club looks to balance their financial books.
The coronavirus pandemic - after years of mismanagement and poor recruitment - has seen the club plunged into financial disarray, with reports claiming they need to shift £170m from the wage bill in January, and will therefore put both Samuel Umtiti and Ousmane Dembele up for sale, among others.
The club issued a statement on Friday night confirming the 'agreement in principle' between the players and the club. It read:
"The representatives of the club and the players that make up the negotiation table for FC Barcelona salary adjustments, aware of the great interest and concern with which all of Barcelona follow the work of this commission, make this joint statement public to inform of the following:
- Today, the parties have reached an agreement in principle that allows an adjustment to salaries for the current season, for an amount of 122 million euros fixed remuneration, to which is added the deferral for 3 years of variable remuneration from this season, budgeted at an approximate figure of 50 million euros.
- 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 recognise the great effort that has had to be made to reach this principle of agreement and congratulate themselves for it."