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La Liga giants Valencia have announced that the first-team players have agreed to take a pay cut to ensure stability to the club’s financial structure which has been severely hit by the stoppage of football in Spain and across the globe due to the COVID-19 pandemic.
“Faced with the forecast of a large reduction in income, the will of the first team and VCF Academy players and coaching staff, as well as those in positions on the board, has always been to help and guarantee the economic sustainability of the club at a time of doubt and an uncertain future for all,” the club said in a statement.
“With the priority of keeping the commitment to protect those workers most vulnerable in light of the uncertain development of the situation, Valencia CF will prove a compliment to the income of a very high percentage of employees. The club wish to particularly thank the first team for their solidarity, through a salary reduction, helping the entity to protect all workers and their families in such difficult circumstances,” the statement added.
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Spanish giants, Barcelona, Real Madrid and Atletico Madrid have also imposed pay cuts to the first team players and the coaching staff to make sure the employees of the lower strata get paid and to recover the financial stress caused by the novel coronavirus situation which has made Spain one of the worst-hit countries.
Spanish league president Javier Tebas said that the 2019/20 domestic season will not have to be cancelled and will be played out, although there would be a delayed finish. Tebas said that La Liga is working in conjecture with the European football governing body for a possible date to restart the league.
The 2019-20 season of La Liga was cancelled in the third week of March to avoid mass gatherings amid the COVID-19 contagion.
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