MyFab11-2019

Corona Virus impact, Atletico Madrid consider cutting wages

Atletico Madrid are reportedly considering cutting salaries of players and their staff due to economic uncertainty as a result of the Corona virus effect.

The Madrid-based club is trying all kinds of scenarios to deal with unexpected situations that have caused their plans in this season to fall apart.

This season is not just Atleti’s performance on the field which is still inconsistent but with concerns about the economic viability of the company which manages a budget of millions of Euros.

It is predicted to reach more than 500 Million Euros which is currently causing its own concerns especially because there are doubts related to whether this season’s competition can be completed or not.

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If it is not resolved, it means that economic losses will be experienced by Los Rojiblancos in terms of ticket sales, marketing, contracts and so on. These conditions make the club try hard to find a solution.

According to news reported by Marca, Atletico’s CEO, Miguel Angel Gil Marin has empowered him since the victory at Anfield by holding a meeting with CEOs, the largest shareholder to find a way out to overcome the economic losses caused by the Corona pandemic.

The biggest percentage of the club’s budget is the salaries of players and coaching staff totaling 350 Million Euros and they hope to save money in the face of this pandemic.

Gil Marin’s initial idea was to negotiate this amount to achieve two goals, namely the minimum impact and the feasibility of the club to be protected.

This is considered to be able to help other employees totaling nearly 500 people who cannot work normally and face salary cuts. Atletico also made sure it would not affect people who had to work at home in some parts of the club that are still functioning.