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Real Madrid players agree to 10 to 20 percent wage cut

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Real Madrid’s playing and coaching staff have voluntarily agreed to a wage cut of between 10 and 20 percent this year, the La Liga side said in a statement on Wednesday.

The wage cut is to help the club deal with the stoppage caused by the coronavirus outbreak.

The club said the exact amount would “depend on the circumstances that may affect the closing of the current 2019/20 sports season.”

Club directors have also agreed to a wage cut as have members of its basketball team, it said.

The club said the move followed negotiations between the team captains —- Sergio Ramos for the senior soccer side —- and club directors.

It said the decision would save having to cut the wages of other employees.

Spain has been badly hit by the coronavirus outbreak with a death toll of 14,555.

La Liga, as with most football competitions around the world, is currently suspended and it is not known when, or even if, the season will re-start.

“This decision, taken by players, coaches and employees, avoids traumatic measures that affect the rest of the workers,” said the statement.

It said it would also help deal with “the reduction in income that the club is suffering these months as a result of the suspension of competitions and the paralysis of a large part of its commercial activities.”

The players at FC Barcelona and Atletico Madrid have also taken pay cuts and La Liga has asked other clubs to follow suit.

The Spanish sports daily Marca said that a 10 percent cut would save the club around 50 million euros.

Olawale Alabi

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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