Juventus, Ronaldo agree to wage reduction that will save club €90 million

Cristiano Ronaldo (L) and his partner Georgina Rodriguez push two strollers as they have a walk with their children in Funchal on March 28, 2020.

Cristiano Ronaldo and his Juventus team-mates along with coach Maurizio sarri agreed to forgo 90 million euros ($100 million) in the wages on the Saturday to help the club during the coronavirus crisis.

The club said the money amounted to four months worth of wages, a third of the players’ salaries.

The first agreement of its kind in Serie A since play was halted three weeks ago means Ronaldo, the highest-paid player in the Italian league, will give up 10 million euros (more than $11 million).

Juventus captain Giorgio Chiellini, who has an economics degree, led the negotiations with the club and fellow players.

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 euros 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.

Soccer around the world has been brought to a standstill by the pandemic with Italy having suffered more than 10,000 deaths from the virus, the highest number in any country.

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 from Lazio with 12 games each remaining.

“Juventus Football Club SpA announces that, due to the current global health emergency (which) is preventing the performance of the sporting activity, it has reached an understanding with the players and the coach of the First Team regarding their compensation for the residual portion of the current sport season,” the club statement said.

“The understanding provides for the reduction of the compensation for an amount equal to the monthly wages of March, April, May and June 2020.

“In the coming weeks, personal agreements with the players and the coach will be finalised, as required by the current regulations.

“Should the current season’s matches be rescheduled, the Club will negotiate in good faith with the players and the coach conditional increases of compensation according to the actual resumption and finalisation of official competitions.

“Juventus would like to thank the players and the coach for their commitment at a difficult time for everyone.”
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