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According to Radio Barcelona “RAK1”, the former Spanish club could officially declare bankruptcy, if it fails to cut player salaries by 190 million euros, by next Thursday.
And negotiations began between lawyers representing the club and other player representatives on Friday to discuss the idea of cutting player salaries in the coming days.
According to the “AS” newspaper, Barcelona are fighting against time to cut player salaries by 30% by Thursday, or risk officially declaring bankruptcy next January.
“Our main concern at Barcelona is the club’s financial situation. The coronavirus pandemic has severely affected Barcelona.”
He added: “The club depends mainly on tourism, and all the income in this sector has been taken away from us now. The situation is very uncomfortable.”
Club president Josep Maria Bartomeu announced his resignation from the club presidency last week after a “dark” period with the squad, during which he made a number of failed deals and made controversial administrative decisions.
Team captain Lionel Messi is the club’s “biggest burden” financially, due to his high annual salary of over € 30m, and the non-renewal of his contract with the team will require the team to pay a huge sum as a reward for their service.
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