Story By: Juan Mayes, Sub Editor: Joseph Golder, Agency: Golder’s News And Sport
Real Madrid are considering salary cuts “in agreement with the players” as sources close to club directors say “they won’t collect their full salary” if the leagues do not continue.
According to Spanish newspaper ‘El Pais’ Real Madrid directors are realising “it is more difficult to save all of the money from television and will look to make a deal with football and basketball players” according to “sources close to club directors”.
The salary cuts come after prolonging the suspensions on all Spanish and European competitions as the coronavirus, officially named COVID-19 by the World Health Organization, continues to further spread around the world.
The sources claim a plan will be formalised “in accordance with the players”, however, they have not yet been contacted.
It is still in its “embryonic stage” but there “is very little doubt they (the salary cuts) will happen” according to El Pais.
Reports claim Real Madrid did not consider the wage cuts earlier as the club believed they could “face the payment commitments with the slack” after receiving a reported 156-million EUR (138.68-million GBP) tax return from the Spanish Treasury.
La Liga was initially set to be postponed for approximately two weeks, however, due to the worsening of the situation, it is unclear if clubs will be able to finish the 11 fixtures scheduled for the second half of the season which will pose a strong financial blow.
Real Madrid sources claim “if we don’t play, they won’t collect their full salary” however adding that “with 1,000 deaths a day, we cannot be thinking about football right now.”
Spain has been one of the countries to be most affected by COVID-19 as the country remains in lockdown until mid-April, at least.
The Iberian country has a reported 85,195 cases leading to 7,340 deaths, the third-most cases in the world.
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