Barcelona initiate new round of pay cuts despite player opposition

Barcelona's Lionel Messi scores a penalty during the Champions League group G soccer match between FC Barcelona and Ferencvaros at the Camp Nou stadium in Barcelona, Spain, Tuesday, Oct. 20, 2020. [AP Photo/Joan Monfort]

Barcelona have formally begun the process to introduce a wage cut on players and staff, the LaLiga 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 (Sh12 billion) earlier this month and a 14% fall in revenue from the previous year but said it was braced for far bigger reductions this season.