Barcelona have extended their deadline to impose a wage deduction across their entire squad by one week after talks failed to broker an agreement.
Catalan outlet Esport3 states that the club are desperately trying to reduce their wage bill by around 30% by the start of the new year, or face bankruptcy.
As the Covid pandemic continues, Barcelona are one of the many clubs losing out on significant amounts of money for every game that's played at Camp Nou without fans.
Today was set to be the deadline in negotiations between the club and the players, however an agreement has yet to materialise, and therefore the club have given the squad a week-long extension.
Even before the pandemic, Barca's wage bill was the highest in all of team sports. The club's debt has risen from €217m in 2019 to €488m this year.
The club has been linked with Bayern Munich defender David Alaba, but reports suggest they cannot afford his wage demands, while they were forced to allow high-earners Luis Suarez, Ivan Rakitic and Arturo Vidal to leave in order to reduce their salary liabilities.