Atletico Madrid is close to announcing a package of wage cuts and temporary redundancies that will affect as many as 500 employees including players.
If Barcelona is the club most struggling with the financial consequences of the coronavirus because of their huge over-spend, Atletico Madrid is not far behind them.
Atletico made a huge investment last summer when they spent £112million on then 19-year-old Joao Felix and it stretched the club to the extent that, when injuries to Diego Costa and Alvaro Morata meant they needed a forward in January, they were unable to buy one.
Now the club looks like being the second Spanish giant behind Barcelona, late on Thursday, to announce an ‘ERTE’ – the temporary laying-off of staff for a period of time in exceptional circumstances. (Text courtesy Guardian)
