Barcelona have reached an agreement in principle with their players to implement wage cuts that will save the club a potential 172 million euros ($A278 million).
The Spanish giants expect to save 122 million euros ($A197 million) from reductions to fixed wages this season and a further 50 million euros ($A81 million) through the deferral of bonuses for three years.
"This principle of agreement is pending ratification in the coming days by the group of players and technical staff affected," the club said in a statement .
"The agreement, if it is ratified, will represent a milestone of great importance in redirecting the current economic situation."
Last month, Barca posted a record loss of 97 million euros ($A157 million) after tax for the 2019/20 financial year plus a 14% revenue fall and said the club was braced for a bigger drop this season.
Barcelona imposed a temporary pay cut of 70% earlier this year lasting the duration of the national state of alarm, which began in March and ended in June.
Australian Associated Press