Real Madrid has reached an agreement with the first-team players to reduce their wages with 10 percent. Due to the coronavirus crisis the clubs need to reduce their expenses and wage reduce is one of them.
If the 2019/20 campaign does not continue then the players' pay cut will go up to 20 percent.
Sergio Ramos, the team captain, leading the players' point of view and director general Jose Angel Sanchez representing the club reached the agreement.
The salary reduce will help the club to save up to 50 million euros and that will ensure the other employees at the club continue to earn 100 percent of their wages.
Since the pandemic began Los Blancos has lost millions of euros.
It's not only the money related to matchdays, as the club have also lost out on advertising, marketing, merchandising and the museum revenues.