Barcelona have confirmed that their representatives and players have come to an agreement in principle for salary adjustments that will save the club over €122 million.
The current pandemic has had a detrimental impact on the Spanish club’s finances this year, with recent financial reports stating that Barcelona lost €203 million in revenue due to measures that they were forced to put into place due to COVID.
This led to losses of €97 million for the last financial year and confirmation that the club would have to ask its playing staff to take significant cuts to address the drop in revenue.
In a statement on their website on Friday evening, Barcelona confirmed that they had finally reached an agreement with players which would look to cut their costs by €122 million this season, followed by a three-year delay for another €50 million due in variables.
“The agreement, if it is ratified, will be a milestone of great importance to redirect the current economic situation,” read the statement.
“That both parties recognise the great effort that has had to be made to reach this principle of agreement and congratulate themselves for it.”