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.
El primer equipo y los miembros del Comité de Dirección del club aportarán a partes iguales las cantidades necesarias para complementar el salario de 430 empleados afectados por el ERTE ➡ https://t.co/7uohA4aUSz— Atlético de Madrid (@Atleti) April 2, 2020
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.
Nuestros sanitarios necesitan nuestra ayuda más que nunca. Desde el Atlético de Madrid #LoDamosTodo junto a @CruzRojaMadrid para conseguir recursos para su protección en la lucha contra el COVID-19.— Atlético de Madrid (@Atleti) March 27, 2020
Puedes sumarte a esta iniciativa aquí ➡https://t.co/lH4MzwQ106 pic.twitter.com/OdUQj2gOnE
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.
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.