Barcelona have managed to achieve a breakthrough in talks to implement a wage reduction among their players. The Catalonian club has managed to negotiate a €122 million reduction in the wage bill, as Barcelona have confirmed themselves.
The 5-time Champions League winners currently pay out a sum of money in excess of €230 million every single season. The departures of Luis Suarez, Ivan Rakitic and Arturo Vidal managed to cut down the expenditures a little bit.
However, that did not prove to be enough, especially considering that the club’s debt had doubled since 2019. Barcelona currently owe €488 million in total and will have to first gather funds before investing any further.
2020 has proven to be the most tumultuous season in the history of Barcelona as a club. The sacking of Ernesto Valverde and that of his replacement, Quique Setien after only about half a season in charge was only the start of the difficult times.
The summer brought along the Messi transfer saga, and though the Argentine superstar stayed put at Barcelona, the problems were not over just yet.
A no confidence motion was passed against President Josep Maria Bartomeu. He was further accused of corruption and was considered one of the prime reasons for Barcelona’s mismanagement.
Bartomeu eventually resigned, but the crisis still exists at Barcelona. There were talks earlier this month of the club heading towards bankruptcy and plunging deeper into chaos than ever before. However, those rumours have subsided since.
The reduction in the wage bill after months of negotiations could finally bring a turn of fortune for the club.
The club recently agreed new contracts for Marc Andre Ter-Stegen, Clement Lenglet, Gerard Pique and Frenkie de Jong. The four players prematurely agreed on a pay reduction in the short term and will be reimbursed by the club when the financial situation improves.