Barcelona’s players have agreed to wage cuts that will save the Spanish club 122m euros (£110m).
The 26-time La Liga champions have also agreed with their players to have about €50m (£45m) of variable payments deferred over a three-year period.
Their last accounts showed a 97m euros (£87m) loss while the net debt more than doubled to 488m euros (£438m).
“This will be a milestone of great importance to redirect the current economic situation,” the club said.
In March, Barcelona’s players agreed to take a 70 per cent pay cut during the coronavirus pandemic and make additional contributions to ensure non-sporting staff received full wages.