Barcelona reportedly at the brink of bankruptcy unless 30% pay cut is imposed next week

According to a  report, Spanish giant  Barcelona could be declared bankrupt in January unless they reduce cost by imposing a significant pay-cut.

The club has to reduce its wages bill by €190m with the deadline set on November 5.

Luckily, the players finally started the negotiations over 30% salary drop this Friday.

Earlier on October, Barca confirmed they closed the 2019-2020 financial year with a €97m loss while their debt rose up to €488m.

The coronavirus pandemic is the main reason behind the economic crisis because Barca depends too much on tourism and ticket sales.

Source: TRIBUNA.COM