Ronaldo, Teammates Agree To Salary Reductions At Juventus Worth €90m

Juventus negotiated salary cuts with its senior team that could save the club 90 million euros during the coronavirus crisis.

Many clubs around the world are having to take drastic measures when it comes to cutting costs.

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With competitive action in an indefinite postponement period, even global heavyweights are starting to feel the squeeze.

Currently, companies like Juventus have no way to generate revenue from ticket sales or other sources of revenue for the day.

The star team in Turin, which includes the five-time winner of Ballon d'Or Cristiano Ronaldo, has agreed to help ease the financial burden by receiving reduced salary packages.

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This idea was defended by Giorgio Chiellini, with the Bianconeri captain looking forward to seeing everyone connected to the club do their part to help a global fight.

A statement posted on the club's official website said: “Juventus Football Club SpA announces that, due to the current global health emergency that impedes the performance of sporting activity, it has reached an understanding with the players and the coach of the First Team about their compensation for residual portion of the current sports season.

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“The understanding foresees the reduction of the remuneration by an amount equal to the monthly payments of March, April, May and June 2020. In the coming weeks, personal agreements with the players and the coach will be finalized, as required by the current regulations.

“The economic and financial effects of the agreement reached are positive by about € 90 million for the financial year 2019/2020.

"If the games of the current season are rescheduled, the club will negotiate in good faith with the players and the coach conditional increases in compensation according to the real resumption and completion 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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Bayern Munich have already reached an agreement with their players, with the Bundesliga champions making a 20% cut in wages, with Borussia Dortmund taking a similar approach in Germany.

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Temporary reductions were implemented in the La Liga Barcelona giants, with many other leaders to follow.

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