Atletico Madrid boss Diego Simeone could lose £1m a month due to coronavirus
Atletico Madrid are one of four La Liga clubs that have used a Spanish law that allows them to reduce the wages of their staff in exceptional economic circumstances.
Diego Simeone is rated so highly by the Champions League challengers that they made him the best boss manager in the world when he signed an extension back in February 2019.
The 49-year-old is also the longest serving coach in the top five European Leagues, and he and his staff have shown their loyalty by agreeing to significant wage cuts during the state of emergency.
Barcelona are believed to have taken similar steps having entered negotiations with staff, as have reigning Bundesliga and Serie A champions Bayern Munich and Juventus.
As reported by The Times, Simeone’s usual pay packet of £3.3m a month is set to be reduced by £990,000 until the pandemic has calmed, although he is likely to be very comfortable on the £2.4m that remains.
Los Rojiblancos president Enrico Cerezo has admitted that the current crisis is completely unprecedented, while hinting an uncertain future.
He told supporters: “In all the years I have been involved in the running of the club I have never faced such an uncertain future.
“We have to face it firmly and responsibly because what is at stake is the guaranteeing the viability of this club.”
Simeone had been linked with a move away from Madrid before his most recent extension, but club bosses were desperate to keep hold of the man that has led them to two Champions League finals, two Europa League final victories and the league title in 2013/14.
The former River Plate is one of the many figures in the game who has sent advice to the public on how to stay safe during this uncertain period.
"I wanted to send you a message of awareness," Simeone said in a Twitter video.
"From my home, I invite you all to follow the path set by the experts, taking care of ourselves and all of those around us. Let's stay home."
Although he is rated so highly at the club as are their industrious players, chief-executive Miguel Angel Gil Marin recently admitted that they overspend on wages.
He said: “We over invest in our dressing-room – It is a risk.”
- Atletico Madrid FC
- La Liga
- Champions League
- Europa League
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