The club has made financial changes, but will continue to pay 50 million euros over the next three years in salary packages.
Barcelona have reached an agreement with their playing team to cut salaries by 122 million euros (110 million pounds sterling / 146 million dollars) over the next three years, the club has confirmed.
However, the Blaugrana will continue to pay 50 million euros (45 million pounds sterling / 60 million dollars) per season during that period in salary packages.
The club has been forced to cut its budget after La Liga imposed a lower salary cap on them last week as they seek to avoid financial disruption brought on by the Covid-19 pandemic.
The president of the league, Javier Tebas, introduced measures to curb excessive spending with fans still banned from stadiums amid the current health crisis.
Having negotiated over a period of weeks with key figures such as Lionel Messi, Antoine Griezmann and coach Ronald Koeman, and having seen discussions suspended multiple times, Barca were able to confirm a plan for the foreseeable future that will see them cut their bills.
“Today the parties have reached an agreement in principle that allows a salary adjustment for this season,” the club confirmed in a statement on Friday.
“[This is] for an amount of 122 million euros [in] fixed remuneration, in addition to the postponement of three years of variable remuneration this season [onward], 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 in reorienting the current economic situation.
“That both parties recognize the great effort that has had to be made to reach this principle of agreement, [they should] congratulate yourself for it. “
It has been a difficult start to the new season for Barça, after a 2019-20 campaign marked by turmoil, although they remain undefeated in Europe.
Although they rank at the top of Group G in the Champions League, and have already booked their place in the round of 16, they have struggled to translate that form into their domestic activities in La Liga.
They have won and lost three games apiece so far this season to drop them in 13th place and face an uphill battle to chase down their rivals, although they still have two games in hand.
source: – target