Barcelona ‘must cut wage bill by £170m to avoid bankruptcy’ amid dire situation

Barcelona's dire financial situation has been laid bare, with reports in Spain saying they must cut their astronomical wage bill by around £170million to avoid the risk of bankruptcy.

Talks are reportedly underway between the club and the legal representatives of their players regarding their salaries, according to EsportsRAC.

The deadline is Thursday next week, by which time a resolution needs to be agreed for the budget to be announced for this season.

Barcelona are forecasting a drop in revenue of over £230million which is why they are calling on players to make financial sacrifices.

Following the reduction in income, salaries are now reported to be over 80% of that figure, which is unsustainable.

Players are likely to agree their same salaries but over a longer period of time, report the Daily Mail.

That would be a similar agreement to quartet Marc-Andre ter Stegen, Frenkie de Jong, Clement Lenglet and Gerard Pique who have all agreed to contract extensions.

The news follows the exit of president Josep Bartomeu who quit the Nou Camp after months of criticism earlier this week.

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Barca stars took a 70% pay cut in March to ensure non-playing staff would continue to be paid in full as the coronavirus pandemic took hold.

Lionel Messi, who revealed his intention to leave the Blaugrana in the summer, is the club's highest earner on £500,000-a-week.

Antoine Griezmann earns just shy of £300,000-a-week while Gerard Pique trousers £220,000-a-week.

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