Juventus, Players Agree to Salary Reductions That Could Save $100.3M

With Serie A and other competitions currently on hiatus because of the coronavirus, Juventus announced Saturday the players and coach Maurizio Sarri have agreed to a wage reduction.

"The understanding provides for the reduction of the compensation for an amount equal to the monthly payments of March, April, May and June 2020," the club said in a statement. "In the coming weeks, personal agreements with the players and the coach will be finalised, as required by the current regulations."

According to Reuters (via ESPN), the total will save Juventus €90 million, equaling about $100.26 million.

The club added it will "negotiate in good faith" with the players for increases in wages if the season does resume.

The 2019-20 Serie A season was halted in early March along with all sports in Italy during the massive outbreak of the coronavirus in the country. Per CNN.com, there have been more than 10,000 deaths in Italy as a result of the disease.

Giorgio Chiellini reportedly led player negotiations, while Cristiano Ronaldo had reportedly personally accepted a wage cut of €3.8 million.

The Portuguese star had also donated €1 million to hospitals in Lisbon and Porto to help the fight against COVID-19.

While cutting wages for the entire club is a drastic move, it has become a relatively common occurrence with La Liga squads like Barcelona and Atletico Madrid requiring action to save money.