Barcelona extend deadline to cut player wages by one week as bankruptcy looms: Report

LaLiga giants Barcelona have extended deadline on imposing a second w deduction on ir squad by a week after club failed to reach an agreement with players on Thursday, vember 5. Catalan club is facing financial hardships due to pandemic and has requested  playing squad to take ar 30% reduction in ws. Reports claim re is pressing urgency for Barcelona, who must reduce ir costs by January or face bankruptcy. 

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Barcelona pay cut: Spanish heavyweights extend deadline for w deduction

According to Catalunya Radio, Barcelona representatives and lawyers of  first-team squad met on Thursday, vember 5, to agree on salary deductions club needs to carry out amid financial hardships at Camp u. Spanish heavyweights initially set ir squad a deadline until Thursday to agree ar 30% w deduction after players already agreed to lower ir ws by 30% earlier this year.

However,  agreement between two parties was met on Thursday and Barcelona finally opted to extend margin to reach an agreement until Wednesday, vember 11.

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It is believed that all Barcelona players have agreed to take a 30% w cut but want club to repay m in future. 'temporary salary adjustment process' was described as a good predisposition by board but decision has been finalized as yet. 

Barcelona also recently confirmed contract extensions for Gerard Pique, Marc-Andre Ter Stegen, Clement Lenglet and Frenkie de Jong. However, reports claim that new deals include reduced salaries for four players in short term but y will be reimbursed with an improved deal in future.

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Barcelona bankruptcy: LaLiga giants facing financial hardships due to pandemic

Barcelona are one of many clubs in Europe losing out on a significant amount of income for every game that's played at Camp u without fans. Reports claim that even before pandemic, Barcelona's w bill was highest in Europe.  club's debt has also risen from €217m in 2019 to a whopping €488m this year.

likes of Luis Suarez, Ivan Rakitic and Arturo Vidal were forced to leave Barcelona in order to reduce ir salary liabilities. It is believed that Barcelona mand to save around €80m a year in ws in summer and will need to cut ar €170m before Wednesday to make sure ir debts do t increase any furr. In October, Barcelona anunced a loss of €90m and a €200m loss of income since pandemic.

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Im Credits - Barcelona Twitter