According to a statement released by Barcelona, the club have revealed that they have come to an agreement over a wage deferral that could save the club up to €172 million. The La Liga giants have been hit harder than most sides with them announcing losses of €97 million for the 2019/20 season.
The effects of the coronavirus have been felt worldwide with Tottenham reporting that they could lose upwards of a €100 million if fans don’t return to stadiums. Not only that, clubs have already started reporting losses with Juventus announcing losses of €71 million for the 2019/20 season. They are not the only club with Manchester United also reporting losses as well as Barcelona with the Catalans reporting €97 million in losses.
However, the club are still struggling with their salary cap reduced by almost €300 million for the 2020/21 season. That combined with the fact that the club have struggled to come to an agreement over a wage deferral has seen them struggle. But that has now changed with the club announcing that they have come to an agreement in principle that “allows an adjustment to salaries”. ESPN has reported that the agreement is player specific and they will be remunerated over the coming seasons.
"The club's and the players' representatives have reached an agreement in principle that allows an adjustment to salaries for the current season for an amount of €122m fixed remuneration. Added to that is the deferral for up to three years of variable remuneration from this season, budgeted at an approximate figure of €50m. The agreement is pending ratification in the coming days. Once ratified, it represents a huge step forward as the club attempts to turn around the current financial situation," Barca said in a statement.