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La Liga has been out of action for close to a month due to the Coronavirus pandemic and the financial burden on many clubs has forced them into taking tough decisions. Fortunately, Real Madrid are quite healthy from a financial perspective and have been able to weather the storm with greater competence than some of their biggest rivals. Both Barcelona and Atletico Madrid quickly felt obligated to announce ERTEs (Temporary Employment Regulation Files), with a 70% reduction in wages. Real Madrid have ultimately decided to move forward with a reduction in wages, but came to an amicable agreement with all parties. An official statement from the club’s website read as follows:
“The players and the coaches of the first football and basketball teams of Real Madrid, headed by their captains, together with the principal executives of the different club directors, have agreed to voluntarily reduce their remuneration for this year between 10 and 20%, depending on the circumstances that may affect the closure of the present sports season 2019-20.
This decision, adopted by players, coaches and employees, avoids traumatic measures affecting the rest of the workers, as well as contributing to the entity’s economic objectives in the face of the loss of income suffered by these months as a result of the suspension of the competitions and the paralysis of much of its commercial activities.”
Given the daily death toll and infection rates in Spain and across the globe, there is no definitive date for when La Liga will return. La Liga President, Javier Tebas, is considering a restart at the end of May or early June, but a formal decision has not yet been taken.