The leadership of the club Barcelona has just reached an agreement with the players on Barcelona’s salary cuts during the break, due to the impact of the COVID-19 epidemic.
The current difficulties may continue for a long time
The COVID-19 pandemic is still raging across Europe, causing all the top continental football leagues, including the Spanish National Championship (La Liga) to be postponed. This makes the team in a situation of severe financial deficit, even big teams like Barcelona are no exception. The financial situation of the Catalan team is forecast to not meet the revenue target of 1 billion euros as planned at the beginning of the season.
On March 20, an online meeting between President Josep Bartomeu and members of Barca‘s board and a number of first-team players, including Messi, was held to discuss solutions to reduce damage to the club. And one of them is the pay cut of the players.
The time period applies from March 14, when the players start at home against Covid-19, until they can return to work. According to ESPN, Barca‘s players are aware of the difficulty of the team and all agree to cut wages, support the team to overcome the current difficult time.
After a period of deliberation and negotiation with the players, Barca‘s management today made the final decision to reduce 70% of the team’s salary. The plan was implemented from March 14, the time when the whole team had to stop working and quarantine until everyone returned to work.
The decision to reduce the salary also affects the Board of Directors, although their work doubled after the tournaments were postponed. However, they want to set an example for the remaining members.
Barca must apply harsh measures due to reduced revenue from football.
Under the negative influence of Covid-19, the Spanish Football Federation suspended La Liga indefinitely. UEFA also acts similarly to the Champions League.
Reportedly, Barcelona is currently the largest revenue club in the world with about 1 billion euros per season. Their main revenues include television royalties, sponsorship, advertising, ticket sales, shirts and souvenirs for fans.
In particular, Barca spent 640 million euros, equivalent to 53% of the team budget to pay salaries for the first team players. This is also the 2nd highest salary fund in Europe after the rich French man Paris Saint -Germain.
Next time, if sales and achievements go down, Barcelona will be difficult to maintain the current salary structure. The defending champion La Liga is in danger of stopping buying Neymar and Lautaro Martinez, and increasing player sales.
Captain Lionel Messi is currently the highest-paid player in Barcelona with about 30 million euros per season. If additional bonuses and terms are included in the contract, the figure will amount to 71 million euros a season. If the salary is reduced, Messi will be the worst player.
According to statistics from the Global Sports Salaries Survey, Barca is the first team in La Liga history that the average salary of players exceeds 11 million euros/year. With the gloomy financial situation in the near future, it is difficult for Barca to maintain such a salary, and the possibility of President Bartomeu’s team will also have to give up the ambition to bring Neymar back to the field of Camp Nou.
Even Barcelona may have to sell a number of important players in the team to be able to balance the team finances. Midfielder Ivan Rakitik is currently one of the most likely names to leave this summer.
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