While Barcelona are in a financial slump themselves, fierce rivals Real Madrid are not too behind on the matter themselves. According to reports coming out of Spain, the board at the Spanish capital are on the verge of implementing another salary reduction around 10-15%.
However, Madrid seem to be managing the situation far better than the Catalonian club, who are heavily rumored to be headed towards bankruptcy if they do not manage to reduce their humongous wage bill.
This will impact the players of the first team, the basketball team, the Real Madrid Castilla team, as well as the alleged ‘power brokers’ associated with the Spanish giants.
Revenue has been impacted heavily by the ongoing pandemic, and losses worth €3-€4 million are being reported from teams for home games all across the continent. Since matchday ticket sales are the number 1 source of regular income for clubs, the absence of supporters in the stands has left a void not only in stadiums but also in the club’s finances.
The first wage reduction conducted earlier this year saw the club end the financial year registering a profit of €200,000.
Real Madrid newbie Eden Hazard is currently the highest-earning player at the Bernabeu, pocketing a weekly wage in the region of €600,000. Gareth Bale earned a salary of similar stature, but himself, as well as James Rodriguez, have been moved on from the club and onto the Premier League.
Madrid are currently renovating the Santiago Bernabeu, and are planning to hold more seats in the stadium so that many more fans can watch the team play when patrons are eventually allowed to watch football from the stands once more.
They have hence, been playing all of their home matches in all competitions at the Stefano Di Alfredo stadium.
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