Real Madrid have confirmed that the players, coaches and executives of both their football and basketball teams have agreed to wage cuts of between 10% and 20% while La Liga is postponed.
Talks over a potential pay cut began last week, with Sergio Ramos meeting with director
Real Madrid C. F. reduces its expenses for this season.
Players, coaches and employees agree on a major savings initiative with the club.#RealMadrid
— Real Madrid C.F. (@realmadriden) April 8, 2020
“This decision, taken by players, coaches and employees, avoids traumatic measures that affect the rest of the workers, as well as contributing to the economic objectives of the entity in view of the decrease in income that it is suffering these months as a result of the suspension of competitions and the paralysis of a large part of its commercial activities,” a statement read.
“The club’s Business Committee strongly supports this decision, which it considers responsible and exemplary.
“Real Madrid is proud of all those who make up this great family and of its unwavering culture of values, which is especially valuable in difficult times such as these.
“In the same way, Real Madrid, its members and fans, want to show all their love and solidarity to those who have suffered the direct consequences of this disease that is hitting us all, especially those who have lost a family member or loved one.”
As noted by Marca, the goal is to save €50m if the season remains postponed, or €100m if it is cancelled altogether, Continued postponement would see the players sacrifice 10% of their wages, but that would rise to 20% if football does not return until next season.
Generally, everyone involved in the talks is believed to have been happy to sacrifice some of their wages, although midfielder Toni Kroos told SWR Sport that he would have preferred to have been paid his full wage and simply donated some of that money.
The German’s viewpoint was shared by some others in the dressing room, but they have all since been convinced to agree to a pay cut.