All the first-team players of the European giants, Real Madrid, have agreed to a 10% cut from their wages as the club looks to stabilize their financial situation.
The Corona Pandemic not only had an impact on the matches played but also on the Clubs as a whole. Once the lockdown was initiated, the clubs started struggling bit by bit.
After the resumption of Football across Europe, almost all the clubs were under the subject of the center to the financial crisis. With the matches played behind closed doors, their main source of income was hampered.
REAL MADRID TO BE ONE OF THE MANY CLUBS AFFECTED BY THE PANDEMIC:
Imagine the repercussion the Pandemic has caused to disrupt even the Richest Football Club in the World! There has never been an issue regarding money at this club. Every year they spend millions on new players and still have a surplus in their balance.
After the outbreak of the virus, the season was halted with a quarter of matches left to play. That season saw the first deduction in wages. There was a deduction of 10%, one agreed by 2-first team squads and Castilla (Segunda Division B) in the second half last season. If football had not returned, then there would have been a 20% deduction.
As per reports, the first-half salary this season has been paid in addition to the 10% cut, as agreed between the directors and players.
TRANSFER WINDOW TO BE AFFECTED?
This season, the rumored transfer budget for Los Blancos was expected to be €900 million based on their previous estimations. However, their current budget of €618 million exhibits the impact of the pandemic on the club’s financial status.
Real Madrid is not planning on buying any players in January in which ample cash must be spent. Instead, they will only opt for a signing if there are players leaving the club, which will balance the wage problem.
Moreover, the only possible signing looking possible is David Alaba’s. The Austrian defender’s contract expires within a period of 6 months and can join as a free agent. There are no talks of him extending his stay at Bayern Munich. Madrid has been linked with him, with the player himself interested in joining the Spanish heavyweight.
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