Owing to the Covid-19 pandemic, like all other clubs, FC Barcelona are laced with the economic crisis and need to save up to £170 million in wages or sail the boat of bankruptcy by January 2021.
With games being played behind closed doors, most other clubs in La Liga have also been hit hard financially. This in return has affected their ticket sales, official stores, and museum tours at large because of the international travel restrictions.
Though back in March, several Barcelona players, including captain Lionel Messi and Co. agreed for a 70% pay cut in order to firm the wages of the non-playing staff, the club is still drowning in a pool of lost profit — which in early October was revealed to be £88 million.
Moreover, La Liga have imposed a £342 million salary cap from £601 million on cash-strapped Barcelona, £77 million less than arch-rivals Real Madrid. But the Spanish giants still need to axe £170 million through their other expenses and player pay cuts to incur the club’s total debt — which is £440 million respectively.
La Liga president, Javier Tebas said that the cuts were quite important to mellow down the excessive expenses throughout the teams, given that the visitors are unable to visit the stadiums yet.
And hence to alleviate the same, the club’s interim president Carlos Tusquets too outlined/quoted certain ways to save money in regards to the club’s future:
“We do not want to take money from anyone. We have to reduce short-term expenses. We hope to reach an agreement with the players and with all the club’s staff on the salary negotiation process.”
“The essential thing at the moment is to lower expenses and look for forms of income that do not exist at the moment.”— Carlos Tusquets
According to various reports, like that of Mundo Deportivo, have reported that Barcelona’s manager Ronald Koeman has agreed to adjust his bulky £10 million salary along with notable players like Frenkie de Jong, Gerard Pique, Clement Lenglet, and Marc-Andre Ter Stegen — due to their contract extensions.
But high wage earners like Leo Messi (£26m-per-year), Antonie Griezmann (£15.3m-per-year), Philippe Coutinho (£9.4m-per-year), and Sergio Busquets (£8.8m-per-year) are low-key left to agree to a 30% pay cut.
Monetary Drama Overshadowing Transfer Activities at Barcelona?
Furthermore, due to the financial losses, Barcelona’s summer transfer window was pretty doomed, as Ronald Koeman did set his eyes on Georginio Wijnaldum of Liverpool and Memphis Depay of the French club Lyon, along with Eric Garcia of Manchester City, but given the dire conditions at the club, Barcelona failed to sign either of them.
Even though having started the 2020-21 season on a rough note, the Blaugrana now find themselves stand 7th in La Liga and hold a 100% record of being the only team in the Champions League, to win most games in the knockout stage.
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