Barcelona, Feb 21: Barcelona’s spending cap has been reduced by the Spanish league because of its elimination in the Champions League.
The Spanish league said on Monday it set the club’s limit for the season at 648 million euros ($692 million), down from 656 million euros ($700 million).
Barcelona’s cap remained relatively high thanks to the financial manoeuvres it did to restructure its debts, though the league said the club will need to slash about 200 million euros ahead of next season, which could be done either by reducing costs within the squad or attracting new investment.
Atletico Madrid and Sevilla also had their caps reduced because of their exits in the Champions League. Atletico Madrid’s was at 315 million euros and Sevilla’s at 191 million euros.
Barcelona, a five-time Champions League winner, was eliminated in the group stage for the second straight season.
14-times Champions League winner and bitter Barcelona rivals Real Madrid remained the club with the highest spending cap in the league at 683 million euros, unchanged from the previous season.
The lowest cap was Elche’s at 42 million euros.
Each club in the Spanish league has a different salary cap based on factors such as revenues, costs and debts. It is proportional to roughly 70% of a club’s revenues. (AP)
