COVID-19: Madrid announce 70 per cent pay cut for players and coaching staff amid coronavirus shutdown - SephoraNews- Nigeria Entertainment Blog SephoraNews- Nigeria Entertainment Blog: COVID-19: Madrid announce 70 per cent pay cut for players and coaching staff amid coronavirus shutdown
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Thursday, 2 April 2020

COVID-19: Madrid announce 70 per cent pay cut for players and coaching staff amid coronavirus shutdown

Atletico Madrid has announced that their players and coaching staff will take a 70 per cent cut in wages during the current break enforced by a coronavirus.
The Rojiblancos revealed on Friday that they would be invoking an ERTE (Temporary Employment Regulation) in a move described by CEO Miguel Angel Gil Marin as a measure needed to "safeguard the future of the club"

COVID-19: Madrid announce 70 per cent pay cut for players and coaching staff amid coronavirus shutdown
"[The ERTE] will result in a 70% reduction in the salaries of coaches and players from the men's first team, from the women's first team and from Atletico Madrid B, for the duration of the statement of the state of alarm," the club said in a statement on Thursday.
Atletico's announcement follows a similar move made by Barcelona's players earlier in the week when the squad said in a statement they had agreed to the cuts in order to allow the club's non-sporting staff to continue to earn their full salary during the lockdown.
"The agreement reached with the first team will also allow the salary of 430 employees affected by the ERTE to be supplemented," Atletico added.
"To make this possible, the first-team squad will provide half the amount needed and the members of the Club Management Committee, which is made up of the Chief Executive Officer and the Directors of the different areas, the other half."



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