Barcelona financial crisis set to force players to accept more pay cuts

Numerous sacrifices have been made throughout the novel coronavirus pandemic and it seems that FC Barcelona players will be asked to make even more. As the club's financial situation becomes clearer to the current board of directors, more pay cuts appear to be in store.

Much has been said about Barcelona's financial struggles, with new president Joan Laporta ordering a financial audit to get a better grip of the situation. The result of that audit is due to come out in the coming weeks, but even before its release, Barcelona's director of football, Mateu Alemany, has hinted that more cuts will soon be made and everyone will be affected.

According to Marca, he spoke at Eric Garcia's presentation last week and said that "everyone at the club will have to make an effort to maintain its sustainability."

This is a worrying situation, considering that the club is ironically in the middle of a massive rebuild that requires a lot of money. The challenge is to generate income while at the same time spending what is necessary to rebuild the squad.

The same report claims that Laporta has applied for a 500 million euro loan from Goldman Sachs. From that amount, 100 million euros will already be at the club's disposal by the end of June. It comes just in time to help Laporta fund his summer transfers.

It is believed that FC Barcelona is neck deep in a debt that amounts to 1.2 billion euros, including the 300 million that was lost in the past season alone. This is a staggering figure for one of the most successful and prominent clubs in the world.

As a result, the players are having to sacrifice their wages, which comprise a large percentage of the club's annual expenditure. After taking pay cuts last season, the same is expected in 2021/22. The exact details of the pay cuts have not been confirmed, and players themselves have not publicly reacted to the news so far.

However, media outlets are speculating that the changes will not go down well with the players, especially if the club fails to offload some members of the squad that have high salaries but are hardly utilised on the pitch.

Laporta is planning on lightening the burden this summer, but not many clubs are able to afford the price tags on the players that Barcelona wants to sell. To top that off, Lionel Messi is believed to be signing a new two-year deal. The value of that deal will play a big role in Barcelona's financial situation in the near future.

The club will have to be careful, because as much as players respect and value Messi, they won't be too happy to accept pay cuts if his deal is unaffected.