Covid-19: Real Madrid's players, coaches and directors agree to reduce wages by 10-20%

"The players and coaches of the football and basketball first teams of Real Madrid CF (LaLiga Santander), led by their captains, together with the main directors of the different departments of the club have agreed to voluntarily reduce their remuneration for this year by between 10% and 20%, depending on the circumstances that may affect the closing of the current 2019-20 sports season," announced the Spanish club on 08/04/2020.

"This decision, 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," added Real Madrid, while the Spanish championship has been suspended since 12/03/2020.

The Madrid club's total wage bill, which includes the sporting and non-sporting sectors of the football and basketball teams, amounts to €456m according to the projected income statement presented by the club for the 2019-20 season in September 2019. The…