Combating COVID-19: Serie A clubs unanimously agree to cut wages by up to one-third

Milan [Italy], April 6 (ANI): Serie A clubs have unanimously agreed to cut the salaries of first-team players by up to one-third due to the ongoing coronavirus pandemic, which has struck Italy particularly very hard.
League clubs held an emergency conference call on Monday after a meeting of the Italian players' union (AIC) failed to reach a concrete agreement on wage cuts, Goal.com reported.
The deal will see players from 19 of the 20 Serie A clubs give up a sixth of their wages when the football would resume and the 2019-20 campaign be completed. If the season is cancelled altogether, wages will be cut by one-third.
However, defending champions Juventus was the only team not to agree to the deal as they have already agreed a wage cut deal with their players.
Juventus had said that they have reached an understanding with players and the coach for their pay being stopped for four months which could save the club an estimated EUR 90 million amid coronavirus pandemic.
The Serie A statement reads: "In line with actions aimed at decreasing labour costs both in Italy and abroad, Serie A today decided unanimously, with the exception of Juventus who have already reached an agreement with their players, a common line of address to contain the amount represented by the salaries of players, coaches and other first-team staff."
"This intervention, necessary to safeguard the future of the entire Italian football system, provides for a reduction of one-third in total gross annual earnings (or four average all-inclusive monthly payments) if the season cannot be resumed and a reduction of one-sixth in total gross annual earnings (or two average all-inclusive monthly payments) if the remaining matches of the 2019-20 season can be played in the coming months," it added.
A Serie A statement read: "In line with actions aimed at decreasing labour costs both in Italy and abroad, Serie A today decided unanimously, with the exception of Juventus who have already reached an agreement with their players, a common line of address to contain the amount represented by the salaries of players, coaches and other first-team staff."
"This intervention, necessary to safeguard the future of the entire Italian football system, provides for a reduction of one-third in total gross annual earnings (or four average all-inclusive monthly payments) if the season cannot be resumed and a reduction of one-sixth in total gross annual earnings (or two average all-inclusive monthly payments) if the remaining matches of the 2019-20 season can be played in the coming months," it added.
Serie A clubs have also indicated their intention to complete the season, with the UEFA having warned of possible sanctions should a league fail to be played to its conclusion. (ANI)