Athletes and players across the men’s and women’s first teams, also Atletico B, have signed an inner arrangement with the club.
Atletico Madrid players will require a 70 percent pay cut so as to help pay the wages of 430 club workers.
Atletico’s men’s and women’s first groups, also Atletico Madrid B and associated coaches, have signed an internal arrangement with the club.
An announcement from Atletico’s official site confirmed the arrangement defined two distinct scenarios based on the choices made on either finishing or cancelling the 2019-20 season.
The statement read: “The cessation of action which has meant the announcement of the state of emergency at Spain as a consequence of the Covid-19 health catastrophe, has caused Atletico Madrid to need to study measures to protect the club’s financial viability.
“Due to this complex situation, and always with the purpose of strengthening the entity’s future, the team has made the decision to present a Temporary Employment Regulation File (ERTE).
“From the beginning, the club’s objective in analyzing possible measures to handle this delicate situation is to minimize its impact on the wages of its employees as much as possible. The agreement reached with the first team will even allow supplementing the wages of 430 employees affected by the ERTE.
“To make this possible, the first team squad will contribute half of the required amount and the members of the club’s management committee, composed of the CEO and the directors of the various locations, the other half”
Atletico are following the lead of Barcelona, who declared at the start of the week that their players would also be taking a 70% pay cut to be able to ease the financial burden on the club.
The Spanish giants’ activities are proving a lot more popular than some from the Premier League, where Tottenham have faced a substantial backlash following chairman Daniel Levy defended the club’s decision to impose a 20% on the wages of 550 non-playing staff members.
Manchester City, meanwhile, have also been widely criticised after continued to take direct debit payments from season ticket holders for matches which might now not proceed.