BARCELONA (Reuters) - Barcelona have formally begun the process to introduce a wage cut on players and staff, the La Liga club said on Wednesday, the latest move to mitigate the crippling effect of the COVID-19 pandemic on its finances.
Barca announced a record loss of 97 million euros (87.70 million pounds) earlier this month and a 14% fall in revenue from the previous year, but said it was braced for far bigger reductions this season.
