Atletico Madrid board, first-team squad to take 70% wage cut to pay wages of 430 employees

The Atletico Madrid board and first-team players have reportedly agreed to undertake a 70% pay cut during these times of financial distress. All clubs have accrued huge financial losses due to the spread of coronavirus in Spain. All sporting events have been suspended including the LaLiga fixtures.

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Atletico Madrid pay cut amid LaLiga coronavirus situation

According to Spanish publication Marca, the Atletico Madrid pay cut will be enforced on all first-team players. The Atletico Madrid pay cut policy will facilitate the wage payment of 430 non-playing staff amid the spread of coronavirus in Spain. The Atletico Madrid pay cut could help the club deal with the financial losses due to the suspension of all fixtures amid the worsening situation of coronavirus in Spain.

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Atletico Madrid pay cut: Club files for ERTE

The Atletico Madrid pay cut decision comes after the decision of the Barcelona pay cut policy. It is reported that the Madrid-based club have filed for ERTE, a mechanism set out by the Spanish government to cope with job loss during the outbreak of coronavirus in Spain. The Atletico Madrid pay cut has been enforced to safeguard the economic viability of the club during the worsening LaLiga coronavirus situation.

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Barcelona pay cut amid coronavirus in Spain

Defending LaLiga champions Barcelona have also agreed to a pay cut of the first-team players. The Barcelona pay cut rounds off to 70% of the players' wages. Earlier reports suggested that the first-team players were unwilling to accept the Barcelona pay cut. However, captain Lionel Messi later issued a statement on Instagram claiming that they were ready to help the club during such critical times and have agreed to the Barcelona pay cut.

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