The management of Real Madrid and players which includes, first-team, Castilla squad and Basketball team have come to an agreement to take a 10% reduction in annual salaries owing to the coronavirus pandemic.
As long as the current season does not resume the reduction will continue, but if the situation exceed the 2019/20 season the wage cut will increase to 20%.
The other employees of the club will not be affected as they will keep earning 100% in wages.
Each of the teams was represented by their captains and directors of different departments of the club.
A club statement read “This decision was taken by players, coaches, and employees, avoids traumatic measures that affect the rest of the workers, as well as contributing to the economic objectives of the entity in view of the decrease in income that it is suffering these months as a result of the suspension of competitions and the paralysis of a large part of its commercial activities.
“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 difficult times such as these.
“The club wishes a quick recovery to all the sick people and wants to transmit its deepest gratitude to all the people who are playing an essential, exemplary and solidary role in the fight against COVID-19.
Real Madrid C. F. reduces its expenses for this season.
Players, coaches and employees agree on a major savings initiative with the club.#RealMadrid
— Real Madrid C.F. 🇬🇧🇺🇸 (@realmadriden) April 8, 2020
With this development Real joins their Spanish counterparts Barcelona, Athletico Madrid, and Athletic Bilbao who have all agreed to a 70% wage cut to make sure that none playing staff get their salaries paid in full.
The Spanish giants have donated in the fight against the pandemic and also made Santiago Bernabeu as a center for medical supplies to hospitals In the city capital.