Juventus players and Maurizio Sarri agree to wage reduction amidst COVID-19 pandemic
The Juventus squad has displayed their commitment towards the club with the entire league in crisis, by agreeing to a temporary pay cut. Boss Maurizio Sarri has also agreed to the same, in a decision that would see the Italian champions save around €90 million from just the wage cut.
Tensions in Italy have been on a rise due to the coronavirus scare and it forced the Italian President, earlier this month, to suspend all sporting activity untill early April. However, that period has almost certainly been extended till May and it has caused serious financial issues for Serie A and Serie B clubs across Italy. But in what will be the first of many clubs to do the same, reports indicate that Juventus' squad and staff have agreed to take a pay cut.
The BBC reported that the Juventus squad along with manager Maurizio Sarri have agreed to the club’s requests and have agreed to a wage reduction which will see them not get their complete salaries until June. The highlights would be likes of Cristiano Ronaldo and former Arsenal star Aaron Ramsey who have very lofty wages with reports indicating that the Portuguese’s wage cut alone could save the Old Lady around £3.8m.
"Juventus would like to thank the players and the coach for their commitment at a difficult time for everyone. The economic and financial effects of the understanding reached are positive for about €90m ($100.26m) for the 2019-2020 financial year. The understanding provides for the reduction of the compensation for an amount equal to the monthly payments of March, April, May and June 2020" confirmed a statement from the club.
The aggregate savings estimated for the Serie A leaders is expected to be around £80.7m, which would be a big sigh of relief. Meanwhile, in England, the Premier League and EFL club authorities have had a meeting with Professional Footballers’ Association (PFA) to persuade the players for a pay cut. BBC reports also suggest that Bundesliga clubs, Borussia Dortmund and Bayern Munich have also accepted to take these wage cuts, with Juventus following suit.
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