In a statement, Spanish football club Real Madrid said in a statement that its players and members of the technical staff have agreed to reduce their salaries by 10-20% this year to help the club cope with the consequences of stopping activity due to the Corona virus pandemic. The club added that the actual value of the reduction “will depend on conditions that may put an end to the current sports season 2019-2020.”
Club directors also agreed to cut their salaries, as did basketball players.
The club said the move came after negotiations between team leaders, including Sergio Ramos, representing the first team and club managers.
Real Madrid added that this decision would avoid the club lowering the wages of other workers.
14,555 people died in Spain as a result of the Coruna virus outbreak. The first division league is currently suspended, like most football competitions around the world, and it is not known for sure when the season will resume its activities.
“This decision by the players, coaches and staff of the club avoids the club taking painful measures that will affect the rest of the staff,” Real said in a statement.
He added that the decision will help the club “to face the decline in revenues now due to the suspension of competitions and the paralysis that affected a large part of its commercial activities.”
Barcelona and Atletico Madrid players have also agreed to cut their salaries and the Spanish League has asked other clubs to do the same.
The Marca sports daily said a 10 percent cut would save about 50 million euros for the club.