Players in Santiago Bernabeu-the home of Real Madrid – have turned down the club’s plans to cut their wages as much as 25 percent of their incentives.
According to Spanish media outfit, Cuatro, reports that the Spanish giants were expecting a deficit of about 200 million euros in 2020/21 due to the adverse effect of the global epidemic.
The report said that the club at the first place proposing a wage cut of 10 percent from the players’ salaries, but as events unfold, the idea of a 25 percent wage cut surfaced which the players at Bernabeu are not willing to let go at the moment
It added that negotiations are ongoing between the squad and the club management, at which the first team squad subscribed to the 10% wage cut before the second wave of the pandemic
This allowed the club to avoid using “ERTE to make employees temporarily redundant, a measure that Atletico Madrid and Barcelona made use of.” according to Cuatro
It was noted that the players have already let go of their bonuses for winning the La Liga and the Super Cup, saying that there was a unanimous decision to save 25 million euros
However, the authorities of the club have been working on another wage structure recently, stating that the players can renew their contracts to take the structure as a part of the contract.
The Los Blancos are seven points behind league leaders Atletico Madrid after beating Alaves away from home last Saturday 4-1 it ended. They host Levante today, hoping to continue in winning ways.