It is now official. Real Madrid have released a statement confirming that there will be wage cuts at the club, including the first team players, due to the coronavirus pandemic.
Madrid revealed that the amount deducted will be between 10 and 20 percent of the annual wage. The exact amount will depend on the evolution of the crisis and when and how football can return.
Los Blancos said that the agreement was "voluntary" on the players' part and would also affect the club's basketball team. They also said it means other staff in non-sporting departments won't have their pay cut.
Madrid become the latest La Liga side to reduce wages. Barcelona, Atletico Madrid, Osasuna, Alaves and Espanyol are among the other clubs that have announced measures to help combat the financial effects of the virus.
The statement read: "The players and coaches of the football and basketball first teams of Real Madrid, 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 percent and 20 perecnet, depending on the circumstances that may affect the closing of the current 2019/20 sports season.
"This decision, taken by players, coaches and employees, 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.
"The club's Business Committee strongly supports this decision, which it considers responsible and exemplary."