Athletic Club Bilbao: agreement on salary cuts for first team players

"The entire Athletic Club Bilbao (LaLiga Santander) first-team squad have agreed to take a salary decrease for the 2020-21 season in order to help mitigate the impact the global pandemic has had upon the club," announced the Spanish club on 19/02/2021.

"The agreement entails a fixed cut of 8.43% in earnings to paid to first-team squad members this season (2020-21). The figure may rise 10.26% depending on certain circumstances," added the Basque club, which could thus save around €7.5m according to estimates from several Spanish media sources.

Athletic Club Bilbao saw its turnover fall by 19.5% (to €96.7m) and posted net losses of €20.8m in 2019-20. On 10/12/2020, when Athletic Club presented its provisional accounts for the 2020-21 season, the club's management forecast a net deficit of €14.3m.

"The club would like to publicly thank the squad for their understanding and co-operation. The action the players have taken, for the second time in less than ten months, is an example of responsibility and commitment to this institution and its members," added Athletic Club. In April 2020…