Atletico Madrid have confirmed their players will take a 70% wage cut, to supplement the salaries of 430 club staff in the coming months.
Los Rojiblancos stated last week they would be applying for an ERTE temporary redundancy programme, due to the financial pressure of the La Liga Covid 19 shut down.
The club have released an official statement, detailing the steps they will now take.
“The necessary amounts will be contributed by the players and management of the men’s first team, alongside the club’s board of directors.
“The club have defined two working economic scenarios, alongside players and management, based on the future developments of all competitions.
“All members of the first team have signed an agreement to reduce their salaries by 70%, for as long as the Covid 19 state of alarm continues in Spain.
“The first team squad will contribute half of the required amount (to maintain salaries), with the board making up the other half.”
La Liga rivals Barcelona confirmed a identical policy earlier this week, with skipper Lionel Messi releasing a statement confirming a 70% wage cut in a bid to help club staff.
Other Spanish sides, including Celta Vigo, Espanyol and Alaves have begun the process of implementing ERTE procedures, with updates expected in the coming days.
Spain’s state of alarm has been extended in to mid April by Prime Minister Pedro Sanchez, with La Liga suspended indefinitely.
UEFA have confirmed they are working with all 55 national federations on a calendar for the resumption of domestic leagues, with the Champions and Europa Leagues remaining suspended.