Barcelona Finally Escape Bankruptcy After New Massive Wage Cut

Barcelona have come out of their bankruptcy problem after they agreed a new massive wage cut with their players on Friday.

The Nou Camp club has reached an agreement with the squad to slash their salaries by €122m over the next three years.

However, the LaLiga giants will still be paying out around €50m per season on wage packets.

In a statement Barca confirmed the wage cut: “Today, the parties have reached an agreement in principle that allows an adjustment to salaries for the current season.

“[This is] for an amount of €122 million [in] fixed remuneration, which is added to the deferral for three years of variable remuneration from this season [onward], budgeted at an approximate figure of €50 million.”

“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 to redirect the current economic situation.

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“That both parties recognise the great effort that has had to be made to reach this principle of agreement, [they should] congratulate themselves for it.”

This post was first published on GoalBall.