La Liga: Real Madrid execute 10% reduction in salaries

Real Madrid are continuing to drop expenses to balance the club’s accounts and create space to find a budget for this coming season according to Marca.

Much has been said about the proposed salary cut, with the club viewing it to be essential. It’s been a bone of contention for some, but now it’s been applied.

The directors and main executives of the club have seen their income reduced by ten percent, a measure decided by the club’s leaders to counter the decrease in economic income brought about by the pandemic. Players and coaching staff have negotiated individually after rejecting a unilateral reduction; those who’ve agreed with the club’s proposal have seen their salary already reduced.

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The club’s leaders’ objective is to bring the balance down to zero. A couple of months back there was a €70m shortfall standing in the way of them achieving this, but that’s close to being overcome due to the measures already implemented.

Luka Modric, who signed a renewal this week, was one of the first to agree to the reduction.