Faced with the threat of bankruptcy: Juventus players agree to lower wages due to coronavirus

The coronavirus pandemic negatively affects all spheres of human life, but the economy suffers more. The final amount of losses remains to be calculated, but it is now clear that due to the inability to function normally, many companies and enterprises may be on the brink of survival. This fully applies to sports.

Due to the difficult epidemiological situation, Italy became one of the first countries to declare a state of emergency and impose universal quarantine. All sporting events, including the football championship, were canceled, the welfare of Serie A clubs was threatened. A way out of the predicament was found in Juventus, Turin. After three weeks of inactivity, the management of the “old lady” reached an agreement with the players and the coaching staff to temporarily stop paying fees.

The club’s official statement said that team members by mutual agreement will not receive salaries for March, April, May and June of this year. It is expected that such measures will save about € 90 million.

“If the matches of the current season are postponed, the club will in good faith discuss with the players and the coach the conditions for raising the salary, taking into account the actual resumption and completion of official competitions. Juventus would like to thank the players and the coach for their dedication at such a difficult time for everyone, ”the Juventus press service noted.

Personal agreements with both the players and the mentor of the current Italian champion Maurizio Sarri will be concluded in the next few weeks.

It was initially assumed that the Italian Football Federation is considering an option in which all clubs will have the opportunity to reduce payments to their players by 20-30%. Moreover, the amount should depend on the income of a particular athlete. However, Juventus decided to take the initiative into their own hands.

Interestingly, this option to overcome the crisis was proposed by team captain Giorgio Chiellini. There is nothing surprising here: a veteran of the Bianconeri and the Italian team has a master's degree in economics and commerce.

It was he who convinced the leaders of the “old Signora”, including striker Cristiano Ronaldo, whose annual salary is about € 31 million net, to take such a step for the club’s well-being. They discussed the pros and cons during a specially organized video conference. Chiellini was one of the first to support goalkeeper Gianluigi Buffon and defender Leonardo Bonucci.

Earlier, the threatening situation of European football because of the coronavirus was declared by the president of Juventus Andrea Agnelli, who holds the post of head of the Association of European Clubs (ECA). He noted that the organization is considering options to help teams in distress.

“We, the leaders of the clubs, are responsible for their well-being and stability. Now they are facing a threat to subsistence. Since football now stands still, we stopped receiving income, on which the salaries of players and staff, as well as other expenses, depend. No one is safe from this, and time is crucial. Taking into account everyone’s concerns will be the most difficult task our sport and our industry have ever faced, ”Agnelli quoted Reuters as saying.

In addition, the International Football Federation (FIFA) announced its intention to urge football players to voluntarily agree to a salary reduction of 50%. The creation of a fund that would guarantee accelerated stabilization of sports after a pandemic was also discussed.

Juventus was not the only club that decided to reduce payments to its players. So, despite the protest from some players, the leadership of “Barcelona” went to reduce the fees of football players and staff by 70%. In blaugrana, they intend to use the option of Spanish law, according to which the employer in emergency situations has the right to reduce the number of working hours and, accordingly, the salary.

The example of “Barcelona” was followed by Madrid “Atletico” and “Espanyol”, and the players of Munich “Bavaria” agreed to a 20% reduction in payments. At the same time, according to the Spanish media, in Real Madrid they have so far refused such measures.