First division clubs in the Spanish league La Liga have reduced their salary cap by a total of 600 million euros (about 52.75 billion rupees). The club has taken this decision due to the damage done to Corona. Barcelona and Valencia have suffered the most losses. At the same time, Real Madrid will have the biggest budget for this season.
Earlier, La Liga president Javier Tebas said that Covid-19 is suffering a lot of losses due to the fan not coming to the stadium. Therefore Spanish teams will have to deduct a total of 500 million euros (about 44 billion rupees) from their sporting staff budget.
At the same time, La Liga general director Jose Guerra said that we have changed our financial control norms into 3 parts. We have taken this decision in view of Corona’s influence. It will take time for us to adapt to this situation. Teams and clubs must adapt to this situation.
Barcelona lost the most due to salary cap cuts
Spain’s biggest club Barcelona has suffered the most from the new salary cap. Barcelona recently reported a 30% reduction in their players’ salary. Barcelona has reduced the salary cap for this season by nearly 300 million euros (about 26.37 billion rupees). His salary cap for the 2020–21 season would be 382.7 million euros (about Rs 33.59 billion), compared to 671.4 million euros (about Rs 59 billion) in the previous season.
Despite the salary cap cut, Real Madrid will have the biggest budget this season. Real Madrid’s salary cap for the 2020-21 season would be 468.5 million euros (about 41.15 billion euros), compared to 641 million euros (about 56.36 billion euros) last season. Atlético Madrid reduced the salary cap by 131.8 million euros (about 11.6 billion rupees).
La Liga incurred losses due to Corona
The 20 clubs of the first division of La Liga will be able to spend a total of 2.33 billion euros (2.03 trillion) this season. This is 610 million euros (Rs 53.63 billion) less than the previous season.