Juventus, the Italian football champions, has risen in the past eight seasons, after players and coach Maurizio Sarri agreed to reduce their salaries until June in light of the suspension of the championship competitions and all sports activities in the country due to the new Corona virus.
Several international clubs have begun to conclude agreements with players and their various employees, or even to announce decisions unilaterally, to reduce salaries in light of the near complete paralysis on various sporting levels due to the "Covid 19" epidemic.
The result of this agreement, which means "saving 90 million euros ($ 100.5 million) in the 2019-2020 fiscal year," according to Juventus said in a statement last Saturday, the club's shares increased by 7.94 percent on the Milan Stock Exchange, according to figures released at the time Early Monday.
Juventus were the leaders of the Italian league, one point ahead of Lazio, before taking the decision on March 9, which will lead to major financial consequences for the clubs, especially in the absence of match revenues and revenues from television broadcasts.
Italy is the country most affected by the "Covid-19" epidemic in the world, and the number of deaths has reached more than 10 thousand people.
The local authorities decided to stop all sports activities until the third of next April, but this date has become the rule of the extension in light of the current health conditions, especially in the absence of any horizon for the return of the competitions.
Juventus pointed out that if the 2019-2020 season is completed, players in the following months may receive higher salaries than those specified in their contracts, expressing "thanks to the players and the coach for their commitment at a difficult time for everyone."
Juventus are not the only big team to have reached an agreement with their players to cut salaries, but many European clubs have followed suit, including Bayern Munich and Borussia Dortmund.