Barcelona failed to pay December wages despite salary cuts worth $150M
The financial crisis at Barcelona is getting worse and worse with reports from Dailymail (via Cadena COPE) now stating that they failed to pay Lionel Messi and co. their December wages.
The concern over in Spain is that the ongoing coronavirus pandemic may make matter worse with the report claiming that future payments may also be affected.
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This news comes right after the club released their financial report revealing $153 million (€126m) owed to many clubs for their respective transfers. The situation at Barca is quite extreme and delicate than that of what the club are trying to portray.
The players were not paid their December wages, and while it is said that the club will resolve the issue by February, it is still not what was expected by the players. The squad usually gets their salary in two installments, once in June and again in December.
Many European clubs have struggled since the outbreak of COVID-19, and while many clubs were able to reach an agreement with their players for a wage-cut, the Catalan giants only managed that at the end of November 2020.
Only Frenkie de Jong and Gerard Pique had agreed to a wage cut in Spring of 2020, with the rest of the bunch, including Lionel Messi with a hefty fee of $355 million/year, only agreeing on last November.
Things are getting worse for Barcelona.
While the cuts have allowed Barca to save $150 million, they were initially hoping the figure to be around $230 million. Even newly appointed boss Ronald Koeman agreed to a sizeable cut on his $13.7 million/year salary.
Recent reports from El Confidencial also revealed that the Spanish against had asked numerous banks to give them time to pay the outstanding amounts. As if this was not bad enough for Barca, they also have a negative capital for the most part of last year’s finances due to the fixtures being played behind closed doors while continuing to pay the hefty player wages.
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What should Barca do to resolve this large sum of debt?