An agreement has been reached between Real Madrid and the club’s first-team squad, Castilla squad and basketball squad for the playing staff to take a 10 percent reduction to their annual salary in response to the coronavirus crisis – assuming that the season does resume at some point.
If the 2019/20 season never does get back underway then the players’ pay cut will go up to 20 percent.
This story was first reported by MARCA on Wednesday afternoon, before Real Madrid confirmed it and went into further detail via an official statement.
This agreement was negotiated with first-team captain Sergio Ramos leading the players’ point of view and director general Jose Angel Sanchez representing the club.
The players’ gesture is greatly appreciated by those in charge at the club and the approximately 50 million euros that should be saved will ensure that the other employees at the club continue to earn 100 percent of their wages.
Since the coronavirus crisis started, Real Madrid have lost out on millions.
It’s not only the money related to matchdays, as the club have also lost out on advertising, marketing, merchandising and the museum revenues.