Bengaluru, April 9: Real Madrid's playing and coaching staff have voluntarily agreed to take a wage cut of between 10 and 20 per cent this year to help the club deal with the stoppage caused by the coronavirus outbreak.
The club said the exact amount would depend on the circumstances that may affect the closing of the current 2019-20 sports season.
The Spanish sports daily Marca said that a 10 per cent cut would save the club around 50 million euros.
Club directors have also agreed to a wage cut as have members of its basketball team, it said.
Real Madrid C. F. reduces its expenses for this season.— Real Madrid C.F. 🇬🇧🇺🇸 (@realmadriden) April 8, 2020
Players, coaches and employees agree on a major savings initiative with the club.#RealMadrid
The club said the move followed negotiations between the team captains - Sergio Ramos for the senior football side - and club directors. It said the decision would save having to cut the wages of other employees.
The players at Barcelona and Atletico Madrid have also taken pay cuts and La Liga has asked other clubs to follow suit.
Spain has been badly hit by the coronavirus outbreak with a death toll of 14,555.
La Liga, as with most football around the world, is currently suspended and it is not known when, or even if, the season will re-start, though there were rumours that it might resume behind closed doors in July.
"This decision, taken by players, coaches and employees, avoids traumatic measures that affect the rest of the workers," said the statement.
It said it would also help deal with "the reduction in income that the club is suffering these months as a result of the suspension of competitions and the paralysis of a large part of its commercial activities."