Atletico Madrid Players Take 70Percent Pay-Cut In Wages

Both men and women players of Laliga giants, Atletico Madrid have signed an internal agreement that will see them take a 70% salary cut.

Both the senior and Team Bs including their managers have signed this agreement to help the club settle 430 club employees during the break enforced by the Coronavirus pandemic.

According to an official statement released by the folks at the Wanda Metropolitano, the agreement defined two different scenarios depending on the decisions made on either completing or cancelling the 2019-20 season.

“The cessation of activity that has meant the declaration of the state of emergency in Spain as a result of the Covid-19 health crisis, has caused Atletico Madrid to have to study measures to safeguard the club’s economic viability.

“Due to this complicated situation, and always with the aim of guaranteeing the entity’s future, the club has made the decision to present a Temporary Employment Regulation File (ERTE).

“From the outset, the club’s objective in studying possible measures to deal with this delicate situation has been to minimize its effect on the salaries of its employees as much as possible. The agreement reached with the first team will also allow supplementing the salary of 430 employees affected by the ERTE.

“To make this possible, the first team squad will contribute half the necessary amount and the members of the club’s management committee, made up of the CEO and the directors of the different areas, the other half.”

Atletico Madrid are definitely following in the footsteps of fellow Laliga giants, Barcelona who announced earlier in the week that their players were taking a 70% cut in their wages in a bid to ease the financial burden on the club.

The Coronavirus pandemic has enforced a break in various leagues across the world including Spain. The suspended leagues has made most clubs lose revenue that would have been gained from broadcasting and matches.

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