It looks like Real Madrid has also taken a serious financial hit with the spread of the novel coronavirus.
Fans saw Barcelona players forced to take up to 70 per cent pay cuts last week due to the financial loss the Covid-19 outbreak has caused.
Other clubs across Europe also saw this happening, although not up to 70 per cent. These clubs include Bayern Munich, Borussia Dortmund and Juventus.
Although Real Madrid President Florentino Perez had assured the players that there would be no pay cut, it looks as though Los Blancos is now forced to take this measure, according to this report.
Moreover, the players who are the highest-paid will see more of a reduction – the likes of Eden Hazard, Gareth Bale, and Sergio Ramos. This is important to carry out so that Real Madrid can afford to pay the salaries of 800 other staff members.
However, salary reductions won’t be as much as the 70 per cent that Barcelona was forced to cut. Real Madrid that way are still in a better financial state. If compared to Barcelona €200 million estimated debt, Real Madrid only has a debt of €28 million. Around 80 per cent of Barcelona’s budget is allocated for wages, while Real Madrid has 50 per cent for salaries.
See More:Â Real Madrid Players Salaries 2020 (Weekly Wages)
