More financial troubles for Barcelona as players refuse wage cuts

Barcelona revealed in an official statement that the club has failed to negotiate a pay cut with its players.

A few days ago it was reported how Barcelona needed to negotiate a pay cut with its player to secure the club’s financial future.

Spanish radio station RAC1 had reported that the Barcelona wage bill needed to be reduced by €190 million to avoid filing for bankruptcy in the coming months.

Ever since news of the latest Barcelona financial crisis came to light, reports of players and lawyers negotiating new contracts have been making headlines.

Reports suggest that despite the efforts, the Barcelona board has failed to trim the club’s mammoth wage bill.

The club revealed that salary negotiations between the club, the professional footballers and the corporate worker group have ended, with parties wrapping up talks without finalizing a firm agreement.

The statement also shed light on the future course of action, with the club admitting that it is now up to the management board to make decisions that can help Barcelona deal with the financial problems caused by the COVID-19 pandemic.

Disclosing the financial struggles, the club admitted that a salary adjustment of €191 million needs to be made at a time when the club is facing losses amounting to €300m for the 2020-21 season alone.

While concluding, the club revealed that all parties have decided to take time till November 23 to reflect and come to a decision regarding the proposal on offer.

Media reports had earlier revealed that the club has been trying for some time to trim what is one of the highest wage bills in Europe. Sport Bible had disclosed that the Barcelona wage bill amounts to £235m a year in wages.

Publications covering the salary negotiations had written how the Barcelona board is looking to reduce the wage bill by trying to convince players to take a 30% pay cut, including Lionel Messi.

It is unclear whether the breakdown in negotiations will influence Lionel Messi’s decision to leave Barcelona next summer.

The Argentine alone earns a mammoth £65m in yearly wages, with Messi pocketing millions in personal bonuses and image rights as well. If Barcelona are looking to keep Lionel Messi next year, the club would have to negotiate a new contract that is financially viable for both parties.