La Liga has slashed spending limits for its clubs by €610 million ($724.25m) for the 2020/2021 season due to the financial impact of the Covid-19 pandemic, the league said on Tuesday.
Barcelona's salary cap has been cut to €382.7m from last season's €671m – by nearly €288m – while defending champions Real Madrid can spend €468m, down €172.5m from last season's spending limit.
Barcelona, who posted an after-tax loss of €97m for the 2019/20 financial year, initiated a fresh round of pay cuts last month despite opposition from several players.
The club had earlier imposed a temporary pay cut of 70 per cent lasting from March to June, and got rid of several high earners, including striker Luis Suarez and playmaker Ivan Rakitic, in the close season.
Atletico Madrid, who finished third last season, will be allowed to spend €252.72m in 2020/21, down nearly €96m from last season.
"This squad spending limit denotes the maximum amount that each club can spend... including spending on the first team in relation to players, the manager, assistant manager and fitness coach," La Liga said in a statement.
The total wage limit for all 20 La Liga clubs is now €2.33bn.
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Barca and other major clubs introduce wage cuts
The details
Heard It in a Past Life
Maggie Rogers
(Capital Records)
3/5
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Company%20profile
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The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
Abramovich London
A Kensington Palace Gardens house with 15 bedrooms is valued at more than £150 million.
A three-storey penthouse at Chelsea Waterfront bought for £22 million.
Steel company Evraz drops more than 10 per cent in trading after UK officials said it was potentially supplying the Russian military.
Sale of Chelsea Football Club is now impossible.
UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory