MILAN, ITALY - FEBRUARY 13: Cristiano Ronaldo of Juventus looks on during the Coppa Italia Semi ... [+]
As the coronavirus pandemic continues to have an enormous impact across Italy, Juventus' stars including Cristiano Ronaldo and manager Maurizio Sarri have accepted a pay cut for the next four months.
The agreement is understood to add to $100.5million off the club's wage bill, but the players are expected to continue to receive their normal salaries once the Serie A season continues in the future.
Starting now until the end of June this year will see the Juve stars pocket no wages but there will be “conditional increases”, once the campaign gets back underway. A statement on the official website read:
“Juventus Football Club S.p.A. announces that, due to the current global health emergency is 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.
Juventus' Italian coach Maurizio Sarri (R) gives instructions to Juventus' Portuguese forward ... [+]
“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 €90m 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.”
FIGC (Italian Football Federation) chief Gabriele Gravina has put together a plan which is expected to be presented on Monday.
The Old Lady are the only team thus far to carry out such procedures with other sides expected to follow suit in due course.
ROME, ITALY - FEBRUARY 24: FIGC President Gabriele Gravina attends the press conference after the ... [+]
“The primary objective is to resume the season,” Gravina told Radio Sportiva.
“We’ve outlined a scenario that foresees the resumption of the league campaigns because I think it’s the right thing to do. We must carry out this hypothesis. We’re also working on alternative hypotheses, to give concrete answers to our clubs and fans.”
The major concern is the wages being paid to stars, with the majority earning in excess of $110,000 a week. This is vastly becoming a problem for clubs, as there is obviously no income from gate monies and TV rights coming in.
“Several initiatives have been launched and we’re trying to find mediation between different positions.”
The Serie A season was halted on March 10 following the outbreak of the virus. Italy remains the most affected country, with the nation now surpassing 10,000 deaths as of Saturday.
