Barcelona has reached an agreement in principle with its squad to implement salary cuts that will save the club 122 million euros, they confirmed Friday night.
It is a significant moment for the club and follows weeks of negotiations, without meeting several of the previous deadlines set by the Blaugrana. In fact, a report by Catalan media outlet Esport3 earlier this month said two deadline extensions were granted after negotiating deadlocks.
It is reported that the club was aiming to save € 190 million with these measures and, although this saving will not reach that amount, it is still considered significant.
In addition to the immediate savings of 122 million euros, the club has deferred 50 million variable payments over a period of three years.
The club recently confirmed contract extensions for defender Gerard Piqué until 2024, while goalkeeper Marc-Andre Ter Stegen signed an agreement until 2025, while Clement Lenglet and Frenkie de Jong have extended their stays until 2026.
These agreements included a temporary salary adjustment, which probably indicates that all four have agreed to reduced salaries in the short term, but will be repaid with an improved agreement in the long term.
The club’s accounts show that Barcelona’s debt has more than doubled during the 2019-20 campaign amid extremely worrying financial results.
The club’s financial figures, as indicated by Marca, show that the club’s debt has gone from 217 million euros in June 2019 to 488 million euros in June 2020.
While the club’s first-team squad has been reduced this year, with a € 80 million discount in the salary bill, there is still a worrying financial outlook for the club.