LaLiga faces hit of half a BILLION euros to finish the season, according to president Javier Tebas… who insists clubs have ‘no other option’ but to cut wage bills in coronavirus clampdown
- LaLiga clubs will need to reduce their wages, according to chief Javier Tebas
- The league’s president has laid bare the grim reality of the financial dilemma
- Tebas has claimed it will cost almost half a billion euros to finish the season
LaLiga president Javier Tebas claims it will cost almost half a billion euros to finish the season with the coronavirus pandemic wreaking havoc on the finances in Spanish football.
A number of teams in the top flight, including Barcelona and Real Madrid, have been forced to scramble to reduce their wage bills as a result of the fallout from the current global health crisis.
And Tebas has again laid bare the shocking reality of the situation while appealing to clubs that they have ‘no other option’ but to introduce cost-cutting measures.
LaLiga president Javier Tebas claims it will cost almost half a billion euros to finish the season
A number of teams in the top flight, including Barcelona, have been forced to reduce wages
‘There is a large industry behind LaLiga with many jobs that depend on it,’ he told Marca.
‘According to the latest reports, there are 180,000 jobs. Defending this industry is a social responsibility. We have to be an example, because that serves to grow and create more jobs. People need to understand that LaLiga has a lot of responsibility.
‘We still have excess spending of about €500m (£448m) as clubs can’t remove players with contracts – an effort has to be made to reduce salaries.
Tebas says clubs have ‘no other option’ but to use cost-cutting measures due to the pandemic
‘Some clubs have to continue to try and reduce the wage bill. The most affected in Spain are Valencia, Barcelona and Real Madrid – they just can’t get rid of the superfluous players.
‘To end the season, Spanish football will need to spend about €490m (£435m) to pay the club expenses, but not to all clubs. We’ve detected 17, some of whom are short €100m and others €3m – but the club missing €3m might be in worse shape than the one missing €100m.
‘We’re working to fix it. Valencia is no longer in the Champions League, for example, and they’ve been criticised for selling players but they have to, and Barcelona have to lower their wage bill to finish the season. They have no other option.’
A red-faced Barcelona were forced to announce on Wednesday that they failed to reach an agreement with their players over pay cuts.
Barcelona were forced to announce this week that they haven’t agreed pay cuts for players
The LaLiga title hopefuls have been desperate to save £170m altogether in order to stave off fears of bankruptcy – but ‘several days of intense meetings’ saw both parties unable to find middle ground.
Players’ wages at the Nou Camp took up around 61 per cent of the club’s £940m revenue before the pandemic. Lionel Messi is their highest earner, pocketing around £500,000 per week.
The squad are understood to be aware of the dilemma gripping the club’s finances, however, and confidence remains that an agreement can still be reached.
According to ESPN, Real Madrid will also ask their players to take another wage cut. The first-team group initially took a 10-20 per cent hit, alongside the coaching staff and executives, earlier this year.
Real Madrid are reportedly also prepared to ask their squad to take a second wage cut this year
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