Shares in Italian football giants Juventus surged Monday after the club’ s decision to cut their players ’ salaries in the midst of the coronavirus pandemic.
The Serie A champions announced on Saturday that they had cut their players ’ and coach Maurizio Sarri ’s salaries from March until June after all Italian sport was suspended .
The club’s shares rose by 7 .94 percent on the Milan Stock Exchange early Monday in a market that has taken a major hit from the coronavirus crisis.
Juventus ’ highly – paid stars include five – time Ballon d ’ Or winner Cristiano Ronaldo and Wales midfielder Aaron Ramsey, who joined from Arsenal on a free transfer last year .
“The economic and financial effects of the understanding reached are positive for about 90 million euros ( $ 100 .5 million ) for the 2019/ 2020 financial year ,” the club had said in a statement .
Juventus , who led second -placed Lazio by a point in Serie A before the suspension on March 9 , added that should the season be finished later in the year , the players could be paid extra in those months .
Over 10 ,000 people have died from COVID – 19 in Italy , more than in any other nation .
Players at other big European clubs have also agreed to take pay cuts , including Bayern Munich and Borussia Dortmund in Germany.
