Real Madrid announce players and coaches voluntarily agree pay cuts amid lockdown

Real Madrid have announced their players and coaches have voluntarily agreed to take a pay cut in order to reduce the club's expenses during the coronavirus pandemic. The club released an official statement on Wednesday to announce the club members have agreed to reduce their salaries between 10 to 20 percent during the lockdown.

Real Madrid pay cut announcement

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Real Madrid pay cut: Players and coaches agree 10-20% pay cut

Real Madrid became the latest club to announce a pay cut for its players after LaLiga rivals Barcelona and Atletico Madrid announced a reduction in salary by up to 70 percent. Real Madrid's statement read, 'This decision, 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.'

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Real Madrid worth: Club follows Barcelona and Atletico to announce pay cut

Following the likes of Barcelona and Atletico, Real announced the decision in order to secure the financial future of the non-playing staff at the club. Furthermore, the club also noted that Real Madrid's business committee strongly supported the call and lauded the players and members of the club for 'voluntarily' agreeing to a pay cut during the precarious situation. '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 statement further read.

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Real Madrid worth: Club works with local authorities for coronavirus relief

LaLiga has been suspended since March 8 as Spain continues to struggle with coronavirus outbreak. Real Madrid have been proactive during the lockdown as the club converted the Santiago Bernabeu into a medical storage facility in order to aid coronavirus relief in Madrid. Several players of the club have also come forward to pledge their support for coronavirus relief in Spain and across Europe. Most notably, club captain Sergio Ramos announced his partnership with UNICEF and that he will be donating 264,571 masks, 1,000 items of protective equipment and 15,000 tests to fight coronavirus in Spain. 

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