COVID-19: Bayern Munich players accept pay cuts

Bundesliga footballers including those at Bayern Munich have agreed to accept pay cuts in order to help their club survive the drastic economic impact caused by the coronavirus pandemic.

Players, as well as the club officials at Bayern, have accepted a 20 percent cut in terms of their salaries.

Reportedly, Bayern has a huge pending wage bill of €336 million ($525.7 million) for last year, which equals almost half of the club's turnover. Subsequently, the German giants are in financial worries under the current circumstances.

Borussia Moenchengladbach footballers were the first in the German top-flight league to propose a pay cut. Then, they were followed by others, namely Borussia Dortmund, Werder Bremen and Schalke 04. Bayer Leverkusen players are also currently in talks with their employers over pay cut proposals.

Dortmund said that their players had already accepted a reduction in their respective salaries as means of showing solidarity with the club's 850 employees. Also, coach Lucien Favre and the directors made a personal offer of taking a pay cut.

Title defenders Bayern Munich was on top of the table with 55 points, leading Borussia Dortmund by four points when the season was halted.

Similar to other top European tournaments, the German top-flight league has faced financial distress. Ticket sales during this period have generated zero revenue. Other incomes from sponsorships and broadcasters have also been hit hard during the ongoing novel coronavirus pandemic.

All matches in Germany have been suspended until at least April 30 to contain the further spread of the deadly virus.

In a statement, the Deutsche Football League (DFL) wrote, "The Executive Committee is aware that all scenarios and options for action also depend on external factors, over which the DFL and clubs have no or only limited influence, including the further spread of the virus. In this light, the Executive Committee will recommend towards the Ordinary Assembly a further suspension of match operations in the Bundesliga and Bundesliga 2 until at least 30 April."

Previously, on March 16, Bundesliga had declared that the initial postponement would be effective until April 2. However, that date has now been pushed back further.

Nearly 20,000 people have died across the globe and the number is expected to rise further, given the tremendous spread of the coronavirus pandemic. The sporting world is witnessing an unprecedented crisis.