Ramos renewal stumbling block centres on 10% salary drop
The club are insistent that the captain accepts a salary reduction before agreeing to contract renewal terms.
Sergio Ramos' future at Real Madrid remains up in the air, with talks for the renewal of a new contract stalling between the player and the LaLiga club. As of January 1, Ramos can now formally negotiate with another club to leave on a free transfer at the end of the 2020/21 campaign. At present one of the fundamental stumbling blocks is the 10% salary drop that the club have planned for all first team and Real Madrid players with key club executives and members of the RM basketball side also set for a wage reduction to counteract the loss of income as a consequence of the covid pandemic. The reduction comes at a time when the likes of Ramos, Modric and Lucas Vázquez are involved in key contract renewal negotiations.
At present Sergio Ramos earns a sum of 12 million euro net per season with the Santiago Bernabeu outfit with the proposed reduction wiping out 1.2 million euro of his annual income from the club.
The salary reduction initiative from the club has in general terms been rejected by members of the first team squad with many players aware that the club are planning big money summer swoops for the likes of Mbappé and Camavinga with the arrivals set to be offered lucrative wages as an added incentive. The players claim that if there is money in the coffers for new acquisitions, then there is no need for the squad to take a salary hit.
Losses of 90 million euro plus
If Real Madrid's financial forecasts come to fruition for the 2020/21 campaign (with the planning taking into account no fans returning to the stands this season), the club expect to make a loss of 91 million euro hence the proposal to all key players and high earning executives.
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