Real Madrid have announced that players and staffs have agreed to a pay cut for the rest of the season, MySportDab reports.
Real Madrid issued a statement which read: ‘Players and Coaches from both football and basketball teams, led by their captains, together with the club’s top executives, have all agreed to voluntarily lower their wages for this year between 10 and 20 per cent depending on what happens to the 2019-20 season.’
If the laLiga season restars the pay-cut will reduce to 10 per cent.
But if the season is cancelled the reduction in salaries will be 20 per cent.
The pay-cut by the club’s highest earners has appeared to protect the club’s other employees from Spain’s wage-reduction scheme known as ‘ERTE’ used by other La Liga clubs.
The Madrid statement added: ‘This decision agreed by players, coaches and employees, avoids difficult situations measures affecting the rest of the staff.’
Spanish La Liga was suspended on March 12 following the Covid-19 Outbreak across Europe.
Rivals Barcelona and Atletico Madrid have already announced ERTEs, but Madrid’s wage much cut is lower compared to their two big rivals.
Barcelona and Atleti both announced a 70 per cent cut in wages for first-team stars during the break in football.