Real Madrid will reduce its squad’s wage bill by between 10% and 20%, the club have confirmed.

Madrid are looking at two possible figures which will potentially help them balance the books – by cutting first-team wages by 10% or up to 20%. The total wage bill for the first team squad alone is €283m (not counting performance-related bonuses and other add-ons). Those figures come from the club’s last balance sheet for the 2018-19 season.

Most of the first-team squad (with some exceptions, among them Toni Kroos, according to reports in Germany) have agreed to take pay cuts.