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Real Madrid players agree to 10-20 percent wage cut

April 09, 2020 12:20 IST
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Real Madrid

IMAGE: Spain has been badly hit by the coronavirus outbreak. Photograph: Geoff Burke-USA TODAY Sports/Reuters

Real Madrid's playing and coaching staff have voluntarily agreed to take a wage cut of between 10 and 20 percent this year to help the club deal with the stoppage caused by the coronavirus outbreak, the La Liga side said in a statement on Wednesday.

 

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 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 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.

Schalke ask season ticket holders to pitch in with rebate refusal

Bundesliga club Schalke 04 have asked season ticket holders to waive their right to a rebate and help the cash-strapped club through the lockdown due to the novel coronavirus outbreak.

Schalke said on Wednesday they were in a potentially "existence-threatening" financial situation, with the league having stopped since mid-March and not expected to resume before May, and have asked more fans to pitch in.

"There are many offers (from fans) to refuse a rebate for their season tickets or day tickets already purchased and we consider these financial gestures as something special," Schalke said in a statement.

"In their sum, each of these refusals is an immense contribution to stabilising the club's liquidity and securing its survival. The club is facing a potentially existence-threatening financial situation."

Schalke will give away specially made team shirts to each season ticket holder who does not ask for their money back, the club said.

The German Football League is desperate to get the season restarted and teams have already started some team training in small groups.

But Germany is still in lockdown with the virus having infected more than 100,000 people and more than 2,000 have died.

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