clock menu more-arrow no yes mobile

Filed under:

Real Madrid negotiating salary cuts due to Coronavirus pandemic -report

Los Blancos will save around €50 million, according to Cadena SER and Diario AS.

Real Madrid v Paris Saint-Germain: Group A - UEFA Champions League Photo by Xavier Laine/Getty Images

Two months without football or any kind of income are too many for Real Madrid to keep their salary structure intact and Los Blancos are already negotiating salary cuts with the staff, including the players, according to reports from Diario AS and Cadena SER. This would allow Real Madrid to save around €50 million depending on the final percentage, per those same reports.

Apparently, Madrid’s board are considering a 12% cut which would save the club €33 million or a 20% with €56 million. The players seem to agree about this and AS’ report mentions that the basketball team have already given the green light to the club’s decision to cut salaries.

This decision would not only save the club huge money, it would also allow the 800 regular employees working in the club to keep their jobs.

Real Madrid’s financial health is still undeniable and the club is still planning on building the new stadium without any kind of delay. However, it’s clear that the decision to cut salaries was only a matter of time considering that it looks like the team is not going to receive any kind of income for a while.

Sign up for the newsletter Sign up for the Managing Madrid Daily Roundup newsletter!

A daily roundup of Real Madrid news from Managing Madrid