Coronavirus Outbreak: LaLiga side Valencia announce pay cut to survive COVID-19-induced economic crisis

A statement from Valencia said many of its non-playing staff would be able to receive their full salary during the period of inactivity following an agreement with the players.

Reuters April 21, 2020 12:20:33 IST
Coronavirus Outbreak: LaLiga side Valencia announce pay cut to survive COVID-19-induced economic crisis

La Liga side Valencia have joined other top Spanish clubs in announcing a pay cut for players and coaches to help ease the financial impact caused by the suspension of play due to the coronavirus pandemic.

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Valencia were seventh in LaLiga when football came to an indefinite halt. Image courtesy: Twitter @valenciacf

A statement from the club on Monday said many of its non-playing staff would be able to receive their full salary during the period of inactivity following an agreement with the players.

Valencia did not give details of the pay cut agreements.

“First team and academy players and coaches as well as the board of directors have shown a huge commitment to help the club and guarantee its economic stability at a time of great difficulty and uncertainty for everyone,” said the statement.

“Also, due to the club’s commitment to protect its most vulnerable workers in the face of the uncertain development of this situation, Valencia will supplement the incomes of a large percentage of its employees.

“The club would like to show its gratitude to the first team players for showing solidarity by reducing their salaries in order to help the club to protect its workers and their families in such complicated circumstances.”

Valencia were seventh in La Liga when football in Spain was indefinitely postponed last month with 11 games remaining. Barcelona lead the standings by two points over Real Madrid.

Barcelona and Atletico Madrid had previously announced 70% pay cuts agreed by players and coaches to ensure other employees would continue to receive their full salaries.

Real Madrid’s players and coaches have pledged to take an annual pay cut of between 10 and 20%.

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