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Barcelona agree to take €122m pay cuts as the club forced to slash salaries due to COVID-19

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Barcelona agree to take €122m pay cuts as the club forced to slash salaries due to COVID-19

After weeks of negotiating with key figures such a s Lionel Messi, Antoine Griezmann and Ronald Koeman, Barcelona have reached an agreement with their playing squad to reduce salaries by €122 million over the next three years, the club has announced.

The Blaugrana has been forced to trim their budget after La Liga mandated a lower salary cap upon them last week, as to save the club finance which had been affected by the Covid-19 pandemic.

“Today, the parties have reached an agreement in principle that allows an adjustment to salaries for the current season,” the club confirmed Friday in a statement.

“[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.

“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.”

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