Real Madrid’s first team will take pay cuts of between 10 and 20 per cent to compensate for the club’s loss of income during the coronavirus pandemic, the Merengue confirmed on Wednesday.
La Liga has been halted since March, with no clear indication as of yet when the league will be able to resume as Spain finds itself one of the worst-hit countries in Europe from the disease.
And while the situation continues, both Madrid’s football and basketball teams will collaborate with wage reductions.
“The players and coaches of Real Madrid’s football and basketball first teams, led by their captains, and together with the principal club directors have agreed to voluntarily lower their wages for this year between 10 and 20 per cent, due to the circumstances that may affect the close of the current 2019-20 sporting season,” the club explained in a statement.
“This decision, adopted by players, coaches and employees, will avoid traumatic measures that would affect other workers, as well as contributing towards the economic goals of the institution in the face of the loss of income that it will suffer these coming months as a consequence of the suspension of activities and the paralysis of most commercial activities .
“Real Madrid is proud of all those who are part of this big family and its unbreakable culture of values, which becomes especially valuable in hard times like these.”
Madrid’s Liga rivals Atletico and Barcelona had previously announced their own cuts, with first-team stars agreeing to a 70% drop in earnings in order to avoid lay-offs and reductions for non-playing staff.
The Blancos’ Germany international Toni Kroos had previously expressed his concern over such measures, suggesting that players would be better off donating their salaries themselves.
“Waiving salary is like a donation in vain, or to the club,” the midfielder told the SWR Sport podcast. “It should be an option for everyone to consider. I think it’s even better to get the full salary and then do the right thing with it.”
“I don’t think it’s necessary here,” Kroos continued. “The other thing is the question of what I do with all the money I get. We must all help where help is needed. And there are a lot of places where help is needed right now.”
“Many clubs already don’t have the income they planned to have, and there are many clubs who need that money,” Kroos said.
“It all depends how long everything will stand still. Quite a few clubs will be able to keep their heads above water for a certain time, others will have difficulties.
“If football returns in May, you’ll find solutions, also with grants, and everything will be normal. But if you say no football until the winter, I can imagine a couple of clubs will be no more and that would automatically drastically change football.”