Spanish giants FC Barcelona could reportedly be bankrupt in January if Lionel Messi and the rest of the squad do not agree to a massive wage reduction.

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According to RAC1, the Blaugrana need to reduce their wage bill by €190 million (R3.6 billion) in order to avoid bankruptcy in January.

The interim board is said to have begun negotiations with the players on Friday, and need to come to an agreement by Thursday, 5 November, or run the risk of declaring bankruptcy in January.

"Our main concern is the club's finances," Carles Tusquets, the president of the club's managing committee, said.

"The pandemic has affected Barcelona particularly hard.

"The club depends on tourism and now, all of that income has been lost; the situation is not very comfortable, we have to take on the ideas of the previous board to find a way of addressing the problems we are facing."

Scroll through the gallery below to see which Barca stars are among LaLiga's highest-paid players:

Barca's situation has worsened due to the fact that their official stores and museum have lost business, while Champions League prize money has also been reduced by UEFA.

The previous Blaugrana board, led by Josep Maria Bartomeu, resigned last week after a vote of no confidence gained enough signatures to begin a formal process to have them removed.

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