Barcelona to save $198 million after players agree to wage cut

Barcelona players celebrate a goal in Kiev Source: Getty Images

Barcelona have reached an agreement in principle with their players over a wage cut that will save them €122 million (A$197.6 million).

The La Liga giants were seeking to reduce their wage bill amid financial problems due to the coronavirus pandemic.

In a statement on Saturday (AEDT), Barcelona confirmed they had reached an agreement in principle with their players.

Along with the €122 million in savings, they also said variable payments of about €50 million had been deferred over a three-year period.

"The agreement, if it is ratified, will be a milestone of great importance to redirect the current economic situation," the club said.

The agreement is pending ratification in the coming days by the players and coaches affected.

Barca are believed to have one of the highest wage bills in Europe, and the likes of Luis Suarez, Ivan Rakitic and Arturo Vidal left the club in the close season.

Ronald Koeman's side are struggling in 13th in La Liga ahead of hosting Osasuna on Monday (AEDT).

Source Omnisport