An agreement has been reached between Real Madrid and the club’s first-team squad for the playing staff to take a 10% reduction to their annual salary in response to the coronavirus crisis – assuming that the season does resume at some point.

If the 2019/20 season never does get back underway then the players’ pay cut will go up to 20 percent.

‘The players and coaches of the football and basketball first teams of Real Madrid, led by their captains, together with the main directors of the different departments of the club have agreed to voluntarily reduce their remuneration for this year by between 10% and 20%, depending on the circumstances that may affect the closing of the current 2019/20 sports season.’ The club said in official statement.

‘This decision, taken by players, coaches and employees, avoids traumatic measures that affect the rest of the workers, as well as contributing to the economic objectives of the entity in view of the decrease in income that it is suffering these months as a result of the suspension of competitions and the paralysis of a large part of its commercial activities.

‘The club’s Business Committee strongly supports this decision, which it considers responsible and exemplary.

‘Real Madrid is proud of all those who make up this great family and of its unwavering culture of values, which is especially valuable in difficult times such as these.’

The players’ gesture is greatly appreciated by those in charge at the club and the approximately 50 million euros that should be saved will ensure that the other employees at the club continue to earn 100 percent of their wages.

Since the coronavirus crisis started, Real Madrid have lost out on millions.

It’s not only the money related to matchdays, as the club have also lost out on advertising, marketing, merchandising and the museum revenues.