According to the Mail via RAC1, Barcelona are facing bankruptcy at the start of the new year unless they can temporarily cut wages by a staggering €190m before next Thursday (November 5).
RAC’s Marta Roman Garina reports that for the first time, talks were held between the players’ lawyers and the club regarding the issue on Friday.
The Mail report that Barcelona’s income is expected to drop by £231m to £746m, meaning that salaries would now account for 80% of the club’s expenditure, which is of course unsustainable.
The Catalan outfit are undeniably the top European side that have suffered most from the Covid-19 pandemic, with it’s financial impact making some of the club’s other costly decisions more damaging.
Negociació salarial ?? avui, per primer cop, amb advocats dels jugadors a la mesa. S’han de retallar 190M, sino el Barça entrarà en concurs de creditors a principis d’any. Compte enrere. Límit, dijous vinent (5 de novembre). + Detalls ara al #TuDiràs @EsportsRAC1
— Marta Ramon Gorina (@Marta_Ramon) October 30, 2020
The Mail report that Friday’s meeting went well, with the squad willing to work out a solution. It’s added that temporary cuts are the likely outcome, with players to receive the same amount of money but over a longer period of time.
The club have already put this method into practice with the recent extensions of Gerard Pique, Marc-Andre ter Stegen, Frenkie de Jong and Clement Lenglet. All of these deals include temporary cuts.
Josep Maria Bartomeu resigned as club president earlier this week, with the entire board of directors following suit, with this administration overseeing a terrible period for the club.