Martin Meissner/Associated Press
Atletico Madrid manager Diego Simeone and the club's players have agreed to a 70 percent pay cut after the team announced it would present an ERTE during the COVID-19 pandemic, according to Rodrigo Faez and Alex Kirkland of ESPN, a step that Spanish businesses can take during an emergency to cut the wages of its staff.
The club released the following statement Thursday:
"The first team squad and coaching staff understand the club's need to present an ERTE, respect its conditions and accept the resulting financial impact on their incomes.