The La Liga side currently have the highest wage bill in world football and the pay-cut agreement has to be ratified by the players and coaches affected in the next few days; Barcelona have struggled financially during the ongoing Covid-19 pandemic
Friday 27 November 2020 20:18, UK
Barcelona players have agreed to pay cuts worth €122m (£110m) as the club looks to recover financially from the coronavirus pandemic.
The Spanish giants currently have the highest wage bill in world football but Lionel Messi and his team-mates have agreed to reduce their salaries for the rest of the 2020-21 season.
As well as the initial hefty saving, the club have also deferred €50m (£44.9m) of variable payments over a three-year period.
A club statement read: "This agreement in principle is subject to ratification in the coming days by the group of players and coaches affected.
Faster goal updates. Hundreds of teams and leagues. Free Premier League, EFL and Scottish highlights. Download the app now.
"In the event that the agreement is ratified, it will represent a highly significant step in the attempts to rectify the current financial situation.
"Both parties recognise the considerable effort involved in reaching this agreement in principle and congratulate themselves on it."
Earlier this year, when the Covid-19 pandemic first hit Europe, Barca's players agreed to a 70-per-cent pay cut and pledged donations to help the club's non-sporting staff continue to receive their full wages.
Barca released a financial report in October which stated they had lost €97m (£88m) due to the impact of coronavirus.