Cristiano Ronaldo and his teammates have agreed to waive four months salaries in order to ensure Juventus can pay their staff amid the coronavirus pandemic.
Many clubs around the world are having to take drastic measures when it comes to cutting costs.
The Serie A side revealed on Saturday that Ronaldo’s teammates, as well as boss Maurizio Sarri, had also agreed to take a wage reduction for March, April, May and June.
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The soccer team owned by the Agnelli family will cut players’ salaries for an amount equal to the monthly wages of March, April, May and June, the company said in a statement late Saturday.
Juventus will save about 90 million euros ($100 million) for the 2019-2020 financial year. The deal will be completed in the coming weeks, the company added.
Ronaldo earns $663,000 per week, roughly $35 million per year. Ramsey earns 518,000 dollars a week.
The statement said: “Juventus Football Club S.p.A. announces that, due to the current global health emergency preventing the performance of the sporting activity, it has reached an understanding with the players and the coach of the First Team regarding their compensation for the residual portion of the current sport season.
“The understanding provides for the reduction of the compensation for an amount equal to the monthly payments of March, April, May and June 2020. In the coming weeks, personal agreements with the players and the coach will be finalised, as required by the current regulations.
“The economic and financial effects of the understanding reached are positive for about €90 million for the 2019/2020 financial year.
“Should the current season’s matches be rescheduled, the club will negotiate in good faith with the players and the coach conditional increases of compensations according to the actual resumption and finalisation of official competitions.
“Juventus would like to thank the players and the coach for their commitment at a difficult time for everyone.”
Earlier this week, Italian sports minister Vincenzo Spadafora said he was “very, very doubtful” that Serie A action would return as previously hoped in early May.