Real Madrid have no pressing need to reduce their wage bill in the coming months due to the economic strength of the club, report Marca.
A number of La Liga clubs have announced they are activating an ERTE – Spain’s temporary redundancy scheme which is activated by the state of emergency within the country, with businesses losing access to their profits.
As outlined by El Mundo last week, Atletico de Madrid have declared an ERTE to reduce costs on employees: “With the sole objective of guaranteeing the survival of the club.”
An Espanyol statement also confirmed 70 percent pay cut for all players, coaches, physios of their men’s, women’s and youth teams while a report in Cadena Cope has outlined how Barcelona are doing similar.
However, Madrid’s wage budget is less than 50% of their overall income while Barcelona’s is said to be closer to 80% – hence the difference in prioritising a wage reduction for staff.
It is also outlined how Cristiano Ronaldo’s €100m sale to Juventus alongside Madrid continually to operate on a profit highlights their economic proficiency.
The coronavirus outbreak has brought sport across the world to a halt with Spanish football suspended indefinitely – meaning that all clubs have no income from matchdays or, for the elite clubs, their museums.
Spain is now behind only Italy on the global scale for the most deaths due to the virus, with the nation now 15 days into a 30-day state of lockdown.