Joao Cancelo ready to take a pay cut as Barcelona send formal offer to Man City

After a month-long wait, it appears Barcelona are finally making ground in their bid to sign Joao Cancelo on a loan deal this summer.

With just 24 hours remaining before the transfer window slams shut, the club have some important steps in the right direction.

Manchester City receive official bid for Cancelo

According to Adria Albets, Manchester City have finally received an official bid from Barcelona for the loan of Cancelo.

This marks a crucial step for the Catalans as they look to snap up the right-back on transfer deadline day.

As per Xavi Hernandez Navarro, Manchester City are evaluating the offer from Barça, but the Premier League giants remain firm that they do not want to pay a part of the player’s salary.

Barcelona, for their part, have transmitted that they are open to paying for Cancelo’s salary, but everything would depend on the player.

Joao Cancelo ready to take a pay cut

Given the current scenario, Joao Cancelo’s decision, with respect to his salary, could make or break the deal.

But fortunately for Barcelona, the Portuguese international is willing to settle for a salary cut of around 20-25%, reports Toni Juanmarti.

As Man City do not want to pay even a single euro to Cancelo, it was important for Barcelona that the player take a salary cut, as the club are not in a position to pay 100% of his current salary at the Etihad.

But with Cancelo ready to settle for a pay cut, it appears to be only a matter of time before Barcelona can sanction the loan of the Portuguese international.

The upcoming 12 hours could be crucial, as both Man City and Barça look to reach a final agreement while Cancelo waits for the green light.