OFFICIAL: Real Madrid's players take 10% pay cut
Real Madrid are going to save 50 million euros on salaries. That is what 'Marca' estimates as a result of the players taking a 10% pay reduction. The club have announced this news and the reduction will be doubled if the season does not resume.
This decision has been taken so that the rest of the club's employers do not have to take a pay cut of any kind. Negotiations were led, 'Marca' says, by Sergio Ramos and Jose Angel Sanchez. They were representing the players and the club respectively.
"This decision, adopted by players, coaches and employees, prevents traumatic measures which affect the rest of the workers, as well as contributing to the economic objectives of the club as a result of the reduction of income which the club is suffering these months because of competitions being suspended", the club said in a statement.
Conversations lasted around a week until an agreement was reached. The board are very happy with the decision. Real Madrid have called it "responsible and exemplary."
The latest reports had indicated that the pay cut was going to be at least 12%. This means that Sergio Ramos and the rest of the senior players managed to get a better deal at the negotiating table.
Real Madrid are proud of all those which make up this great family and its unbreakable culture of values, which is especially valuable in moments of difficulty like this," the club added.
Although there has been an agreement, it is well known that some players do not agree with it. Toni Kroos said that he thought taking a pay cut was a waste of money. He said everyone should have all their money and then they can donate it to whoever.