Cristiano Ronaldo and His Juventus Teammates Get Their Salaries Cut

(Bloomberg) -- Juventus Football Club SpA, home to star player Cristiano Ronaldo, reached a deal with players and its coach Maurizio Sarri to reduce compensation as the virus outbreak forced Italy’s Serie A and other leagues to halt games.

The soccer team owned by the Agnelli family will cut players’ salaries for an amount equal to the monthly wages of March, April, May and June, the company said in a statement late Saturday. A spokesman for Juventus confirmed that the measure applies to Ronaldo and all team players.

Juventus will save about 90 million euros ($100 million) for the 2019-2020 financial year. The deal will be completed in the coming weeks, the company added.

The Agnelli family, which has owned Juventus for more than 90 years, also controls Ferrari N.V. and Fiat Chrysler Automobiles N.V. Its holding company Exor NV owns 64% of Juventus. Andrea Agnelli, the cousin of Exor CEO John Elkann, has been chairman of Juventus since 2010.

Italy’s coronavirus deaths surpassed 10,000 on Saturday even as the contagion’s spread remained relatively stable.

Europe’s hardest-hit country had 889 new fatalities in the past 24 hours, health authorities said, with a slight decline from Friday’s record. New cases rose marginally to 5,974, bringing the total count of patients in the country to 92,472.

©2020 Bloomberg L.P.

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