Barcelona veteran midfielder Sergio Busquets agreed to a wage deferral as part of Barcelona’s ongoing strategy to raise critical funds, which will aid the team’s financial predicament.
The Catalan giants were instructed to cut back on their spending after La Liga refused to register their five new recruits and two contract extensions this summer.
Meetings with Pique and Busquets were held last week to convince them to modify their contracts, and now both have agreed.
The seasoned Catalan midfielder was approaching the conclusion of his deal with Barcelona and needed to decide whether to renew or move on.
In order to lessen the club’s immediate expenses, he has agreed to postpone payments.
It happens as Barca rushes to acquire new players, increasing the pressure on Frenkie de Jong to negotiate a shorter contract.
The club and Busquet’s agent, Josep Maria Orobitg, have reached an agreement in principle to lower the midfielder’s immediate compensation.
But the club will owe the Spain international back payments to make up for the terms of their contract.
Since his debut for the Blaugrana in 2008, the 34-year-old has made 680 first-team appearances and has been an important member of their midfield.
Due to his position at the base of the midfield trio, he is usually regarded as one of the greatest midfielders of this century.
Although the specific terms of Pique’s pay cut or Busquets’ salary deferral have not been made clear, Barcelona believes that they will help decrease their immediate outgoings sufficiently to let them complete new acquisitions.
The team must register any new acquisitions before their opening game against Rayo Vallecano in the inaugural season of La Liga on Saturday.
The highest-paid player at Barcelona, De Jong, is also owed an additional €17 million in outstanding wages.
The player’s representatives, Hasan Centikaya and Ali Dursun, met with Barca executives on Wednesday of last week and are advising the Dutch midfielder to fight for the money he is entitled to.
This summer, Barca added Andreas Christensen, Franck Kessie, Raphinha, Robert Lewandowski, and Jules Kounde to its roster.
However, none of them will be eligible for selection until La Liga notifies them that the club’s financial position makes their contracts feasible.
This summer, Barcelona’s board, under the direction of club president Laporta, approved the sale of some of the team’s key assets as a severe measure to earn money.
The club raised €767 million from the combined sale of its assets; they had anticipated using this money to register their newcomers.
That wasn’t enough, so Barcelona is now prepared to sell up to 49% of the city’s studios.
Busquets said in last March that he was unsure of the direction his future might go.
At the time, he had intended to wait until after the World Cup with La Roja before making a choice, but due to Barcelona’s financial situation, he was forced to do so sooner.