Real Madrid become the latest club to take pay cut

Real Madrid become the latest club to take pay cut

Real Madrid become the latest club to take pay cut

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.

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"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 effect of the suspension of activities and the paralysis of most commercial activities".

Directors at the club have also accepted to voluntary reductions in pay for 2019-20, with all professional sport in Spain on hold as the country remains in a state of alarm.

A number of scenarios were analysed alongside potential dates for a return to competition.

Spanish league President Javier Tebas had said that the 2019/20 domestic season will not have to be cancelled and will be played out, although it will be a delayed finish.

"Real Madrid is proud of all those who make up this great family and of its unwavering culture of values, which is especially valuable in hard times such as these". "It should be an option for everyone to consider. That has always been important to me, saying, "yes, I'm good, but there's a lot of good players out there", so that has always been very important to me, to not think I'm better than I actually am". We must all help where help is needed.

Madrid become the third LaLiga club to take a pay cut after Barcelona and Atletico Madrid had both announced 70% salary deductions for their players.

At the start of the month, it was reported by AS that Madrid were holding off from drastic cost-cutting measures as the board considered the club's financial position to be strong enough to withstand the initial impact of the pandemic.

The club and a number of players had already made donations to charities, hospitals and local authorities tackling the coronavirus pandemic, while a distribution centre for medical supplies had been opened at the Bernabeu.

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