Barcelona FINALLY reach agreement with players to implement wage cuts which will

Barcelona have confirmed that they have reached an agreement in principle with their players to implement wage cuts which will save the club a staggering £109m (€122m). 

Talks have been ongoing for months for squad-wide wage cuts amid financial turmoil at the Nou Camp caused by the effects of the COVID-19 pandemic, with manager Ronald Koeman taking a cut on his £10m-a-year salary this week.  

And on Friday night, Barca finally announced an agreement has been reached which will save £109m – yet with the club also deferring £45m (€50m) of variable payments over a three-year period on top of that, it still falls short of the £170m figure the club has long been targeting to save via player salaries. 

Barcelona have agreed wage cuts with the first-team which will save the club £109m (€122m) 

Antoine Griezmann (left) and Philippe Coutinho (right) are two of the club’s highest earners

The combined figure of £154m saved/deferred still falls £16m short of the club’s original £170m target to save.

The club statement details that though there is an agreement in principle, the playing staff must ratify the proposals in the coming days. 

Last week, Barcelona’s wage cap was reduced from £601m to £342m by LaLiga in the wake of the financial pressures caused by the Covid-19 pandemic. 

LaLiga president Javier Tebas said the cuts were necessary to bring down the ‘excessive spending’ of Spanish clubs, given supporters are still unable to attend matches. 

Barca’s latest figures showed the club had made an £88m loss and had racked up a net debt that had doubled to £440m, as of June 2020. 

LaLiga president Javier Tebas said the cuts were necessary to bring down the ‘excessive spending’ of Spanish clubs, given supporters are still unable to attend matches. 

Barcelona are yet to agree on squad-wide wage reductions after players agreed to a 70 per cent cut in March. 

While some players – such as Gerard Pique…