Amidst all the financial pressure that the La Liga is building on their teams, Real Madrid and Barcelona are probably the most harshly affected. This is due to them having some of the best players in the world on their books.
A statement released by the League made it clear that a decision had been reached among all the parties involved:
‘Today, November 11, after several days of intense meetings, and the negotiation was exhausted, the parties have ended the consultation period, without reaching an agreement.’
The decision, in fact, is that of extending the deadline on the wage reduction concerning most of the teams in La Liga. The Spanish clubs have until the 23rd of November to implement the recommended reductions.
Barcelona are arguably the worst hit of the lot, with the Catalonian club needing to almost half their wage budget. Their wage cap previously stood at £600 million, but has now been reduced to only £342 million.
Considering the utter chaos that has been ensuing behind the scenes at Camp Nou, a wage reduction is the only way to keep things working at the club. However, reaching an agreement will not be easy.
Barcelona’s rivals Real Madrid have been handed a better number, with their wage cap at £479 million from £574 million.
Atletico Madrid, on the other hand, have had their wage cap reduced to £226 million from their previous limit of £344 million.
La Liga president Javier Tebas was very particular as to why the wage reduction was being made mandatory for the clubs in the division, saying:
“The clubs are exceeding 500 million euros. Some have to continue working to reduce the wage bill again. The most affected in Spain are Valencia, Barcelona, Real Madrid.”
The pandemic has made it tough for clubs to survive, with losses being reported in millions with every passing matchday owing to the lack of ticket sales.
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