Real Madrid agree to pay cuts as January transfer plans scrapped
Real Madrid have agreed to another pay cut with their players and officers as the global COVID-19 pandemic continues to impact club finances and team investments.
La Liga was stopped by the coronavirus in March 2020 and was put on a three-month hiatus as Zinedine Zidane’s side won their 34th league title.
During this break in the season, the club agreed to a 10% pay cut with their team while football was suspended, due to lack of income. It was agreed that if the league had not returned at all, the reduction would have been increased to 20%, although this ultimately did not happen.
But as we move into 2021 and fans are still not allowed to return to stadiums in Spain, Real Madrid have decided to strike another deal with their players in order to preserve the club’s finances.
After not signing any players in the summer transfer window, Marca reports that the club have once again agreed to a 10% pay cut with their sports teams and executives.
There are also no plans to sign anyone in the January transfer window, as the club don’t see it as viable to sign players while asking current players to take a pay cut. .
Los Blancos have reportedly seen their budget drop from € 900m for the year to just € 618m due to the pandemic and the lack of fans allowed to watch the games.
The club have reportedly agreed to allow some players to leave the club during the January transfer window as they are not seen as necessary by Zidane, which could open the door to potential deals.
Forward Luka Jovic has been linked with a departure from the club, with former Eintracht Frankfurt side keen to bring the Serbian back. Club manager Adi Hatter has commented on a possible deal, via Goal, saying it’s something the club are watching.
He said, “This is something that has not escaped anyone. He has very few minutes at Real Madrid and, surely, he would have nothing against the return to Frankfurt.