Barcelona 'ready' another pay cut after accruing losses estimated at €97 million

The coronavirus pandemic and the subsequent lockdown had a disastrous impact on the financial health of most football clubs in the world. Barcelona, in particular, were among the worst affected clubs in Europe, having registered losses estimated at €97 million. Following the loss, the club is now preparing for another round of pay cuts. 

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Barcelona suffer losses estimated at €97m

Barcelona officially confirmed they had accrued losses amounting to €97 million the previous season. Following the revelation, Barcelona are set to announce another round of pay cuts for the players, as reported by Spanish media publication Marca. However, it remains unclear if the squad will have the power of rescinding contracts and depart on a free transfer in return for agreeing to the Barcelona pay cut. 

The Barcelona pay cut policy will see a significant modification of the collective working contract. The implementation will force the players and the non-playing staff to agree to pay cuts. The report claims that one player from the squad will represent them during the Barcelona pay cut deliberations with club president Josep Maria Bartomeu. 

Also Read | Barcelona announce €97m loss during 2019-20 season, blame COVID-19 for €204m revenue lost

Will players agree to another pay cut?

Barcelona players had agreed to a 70 per cent pay cut in March this year, owing to the financial crisis. The Barcelona pay cut ensured that the non-playing staff received their wages in full. Last time around, it was captain Lionel Messi who represented the players during the first round of Barcelona pay cut deliberations. 

However, Messi is away on international duty with Argentina for the next couple of weeks. It will, therefore, be difficult to select a representative for the next round of discussions with the club's hierarchy. Meanwhile, the report by Marca claims that the players and the club workers have the right to rescind their contract if their deals are modified for financial reasons. 

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Barcelona transfers hampered due to financial restraints

The financial loss' impact was reflected in Barcelona's transfer dealings this summer. The club could not sign Lyon striker Memphis Depay, the top target for Ronald Koeman, largely due to financial restraints. Sergino Dest remains the only major arrival at the Camp Nou, while several players have been sold, although for meagre transfer fees.

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Image courtesy: Leo Messi Instagram