Barcelona's Lionel Messi, second right, celebrates after scoring his side's opening goal from the penalty spot during a Spanish La Liga soccer match between Barcelona and Real Sociedad at the Camp Nou stadium in Barcelona, Spain, March 7, 2020. (JOAN MONFORT / AP)

MADRID - Spanish La Liga club FC Barcelona want the players to cut their salaries by 70 percent until June 30 as a way of saving around 106 million euros (US$117 million) due to the worldwide COVID-19 pandemic, the Spanish Marca sport newspaper reported on Monday.

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According to the report, the club will lose at least 100 million euros (US$110.7 million). The amount is about 10 percent of the club's budget for the 2019/20 season.

The club's board of directors is currently working to invoke the ERTE, or temporary employment measures, which will suspend the players' labor contracts. 

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The system will be in place in the coming days and will help the club compensate any financial losses.