Real Madrid cuts salaries in major savings attempt amid COVID-19 shutdown

All the employees of Spanish sporting behemoth Real Madrid, including the coaches and players of its basketball and football teams, have voluntarily agreed to accept a reduction in their remuneration for the current season.

Not only the players and coaches, but also the club directors belonging in the different departments within the club have also agreed to accept a pay cut.

The reduction would be anywhere between 10% and 20%. The rate depends on the circumstances that might affect the remaining part of the 2019-20 sports season.

This decision has been taken unitedly by the players, coaches and other employees of the club. Real stated that this decision has been taken to avoid any "traumatic measures" that could have affected the rest of the non-football workers within the club.

Premier League side Manchester City was recently embroiled in controversy given that the club decided to furlough its non-football staff members, while the players and manager are still set to receive full paychecks. It seems that La Liga side Real Madrid attempted to avoid such circumstances.

The club also declared on its website that the move is an attempt to contribute to the organization's economic objectives since there has been a decrease in income during the last few months because of tournament suspensions. Real also stated that their commercial activities have also been paralysed because of the coronavirus pandemic.

Real Madrid's Business Committee supported this decision strongly, and considered it to be exemplary and responsible.

The club wrote in its statement, "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. In the same way, our members and fans, want to show all their love and solidarity to those who have suffered the direct consequences of this disease that is hitting us all, especially those who have lost a family member or loved one."

Spain is the second worst-hit country in the world, with nearly 14,800 deaths reported until now due to the coronavirus. The country has registered nearly 150,000 positive cases. Meanwhile, more than 48,000 people have already recovered from the deadly disease.

The La Liga season's future is still in doubt. After playing 27 matches, Real is at second spot with 56 points, trailing two points behind leaders Barcelona. Even if the league restarts before June, each club will need to play matches at an interval of only 72 hours.