Stars take pay cuts to help Juve save €90m in costs
MILAN: Juventus players and coach Maurizio Sarri have reached an agreement over a wage reduction that will save the Italian champions €90 million, the Serie A club announced on Saturday.
Sarri and the first-team players have agreed what amounts to a four-month pay reduction to help Italy’s most successful club during the coronavirus crisis.
The effective one-third cut to the players’ annual salaries will mean a huge drop in wages for a squad headed by marquee Portuguese player Cristiano Ronaldo, the best-paid footballer in Italy who is reported to earn €31 million a year.
The agreement comes at a time when many clubs around Europe have had to cut wage bills because of the dramatic impact of matches having had to be postponed or played behind closed doors due to the spread of the virus.
“The economic and financial effects of the understanding reached are positive for about €90 million for the 2019/2020 financial year,” Juventus said in a statement.
“The understanding provides for the reduction of the compensation for an amount equal to the monthly payments of March, April, May and June 2020,” it added, saying personal agreements with Sarri and the players will be finalised in the coming weeks.
The Turin-based club, in one of the regions hit hardest by the crisis, have suffered in recent weeks with three of their players having tested positive for the virus — forward Paulo Dybala, defender Daniele Rugani and midfielder Blaise Matuidi.
Italy’s top-fight Serie A league has been suspended since March 9 with Juventus, seeking a ninth successive title, leading the league by one point with 12 games remaining.