The club has announced that they have reached a deal with their playing squad to cut wages by EUR 122 million (£ 110m/$ 146m) over the next three years.
Since the La Liga authorities put a lower salary cap on the club last week the club was forced to make cuts to their spending, so the club could cover for the financial problems created by the Covid-19 pandemic.
The club, however, announced that it would still shell out EUR 50 million (£ 45m/$ 60m) a season on salary packages over the three-year term.
La Liga president Javier Tebas has implemented budgetary steps to curb club spending as sales sources have declined owing to the ban on stadium fans in the wake of the current pandemic.
Barca has now announced its latest financial path map following weeks of talks with key figures such as Lionel Messi, Antoine Griezmann and coach Ronald Koeman.
‘Today, the parties have reached an understanding in principle that makes a wage adjustment for the upcoming season,’ the club announced in a statement on Friday 27 November.
‘[It is for a fixed remuneration amounting to EUR 122 million, added to the three-year contingent remuneration deferral from this season [onwards], budgeted at roughly EUR 50 million.’
“This agreement concept is awaiting approval by the group of players and coaches affected in the coming days.
If ratified, the agreement will be a landmark of considerable significance for the redirection of the current economic situation.
“That both parties recognize the great effort that has had to be made to reach this principle of agreement, [they should] congratulate themselves for it.”
This season, Barcelona failed. They won and lost three games that left them trapped in 13th place.