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La Liga clubs have had their salary caps lowered by 610 million euros due to the coronavirus pandemic, the league announced on Tuesday.
Barcelona’s salary limit has been reduced by almost 300 million euros, while Real Madrid’s spending limit has also been cut by 172.5 million euros and Atlético de Madrid’s limit has been reduced by 131.8 million of euros.
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In total, the 20 La Liga clubs will be able to spend a total of 2.33 billion euros in salaries during the 2020-21 campaign, a reduction of 610 million euros compared to last season.
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Barça had the highest salary cap in Spain last season at € 671 million, but now must meet La Liga’s new cap of € 382.7 million as teams across Europe are forced to deal with the financial consequences of COVID-19.
The Catalan club began reducing its payroll in the summer by letting Luis Suárez, Arturo Vidal and Ivan Rakitic leave.
Meanwhile, Marc-Andre ter Stegen, Frenkie de Jong, Clement Lenglet and Gerard Piqué have agreed to new agreements that will see them suffer a hit on their salaries this season with deductions to be reimbursed in the final years of their agreements.
However, the interim president of Barça, Carles Tusquets, has said that the club has yet to reduce up to 190 million euros in its salary bill. Negotiations on salary deferrals with the players are ongoing and further talks are planned for November 23.
Madrid have surpassed Barça as the club with the highest spending limit in La Liga, although their € 468.5 million ceiling is still far less than the € 641 million they could spend last season.
As a result, players will be asked to accept another pay cut, having taken one earlier this year, sources told ESPN.
The club is putting the finishing touches to this season’s budget, which will be finalized in the coming days, and will then present a proposal to the first team squad.
The League implemented measures in 2013 to force clubs to manage their finances properly and to set limits on overall salary spending. The limits for each club include spending on first team players, coaches, reserves, youth systems, and affiliated clubs and academies.
La Liga president Javier Tebas praised the clubs’ attempts to cut spending and said the league would allow some room for maneuver given that it is “impossible” to change all contracts with players and staff from night to night. morning.
But he also warned clubs that they must continue “to sell players and reduce their salary bills because there is no other option.”
Source: espn.co.uk
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