Juventus has agreed with their senior staff to reduce salaries. Which could save the club €90 million (£81 million/$101 million) during the coronavirus crisis.

Juve is reducing salary during coronavirus outbreak

Juventus has agreed with their senior staff to reduce salaries. Which could save the club €90 million (£81m/$101 million) during the coronavirus crisis. Many clubs around the world have to take drastic measures when it comes to cutting costs. With competitive actions during the period of indefinite delay, even global heavyweights begin to feel ticklish. Such as Juventus are currently unable to generate revenue from ticket sales or other revenue streams on match day. The star squad in Turin, which includes five-time Ballon d’Or winner Cristiano Ronaldo, has agreed to help alleviate the financial burden by accepting low-salary packages. Giorgio Chiellini advocated this idea, and the captain of the Bianconeri wanted to see how everyone associated with the club is doing their job to help the global fight.

Agreement with the players

A statement published on the club’s official website said: “Juventus Football Club S.p.A. announces that due to a health emergency in the world that impedes sporting activities, it reached an agreement with the players and the first team coach regarding their compensation for the rest the current sports season.” Understanding involves reducing compensation by an amount equal to the monthly payments in March, April, May, and June 2020. In the coming weeks, personal agreements with the players and the coach will be finalized, as required by current regulations. “The economic and financial implications of this understanding are positive for approximately €90 million for the fiscal year 2019/2020.

Some other European clubs did the same

“In case of postponement of the matches of the current season. The club will in good faith negotiate with the players and the coach on a conditional increase in compensation following the actual resumption and finalization of official competitions.” Juventus would like to thank the players and the coach for their commitment to a difficult time for everyone.” Bayern Munich have already agreed with their players, with the Bundesliga champions receiving a 20 percent reduction in salaries. With Borussia Dortmund following a similar approach in Germany. Temporary cuts have been introduced at the La Liga giants Barcelona. With many other leading parties are expected to follow this example.