Real Madrid have announced that players and coaches from their football and basketball squads have agreed to a pay cut during the coronavirus pandemic.

Directors at the club have also accepted to voluntary reductions in pay for 2019-20, with all professional sport in Spain on hold as the country remains in a state of alarm.

The wage reductions will be between 10 and 20 per cent “depending on the circumstances that may affect the closing of the 2019-20 season”, the club said in a statement.

“This decision, taken by players, coaches and employees, avoids traumatic measures that affect the rest of the workers, as well as contributing to the economic objectives of the entity in view of the decrease in income that it is suffering these months as a result of the suspension of competitions and the paralysis of a large part of its commercial activities.

“The club’s business committee strongly supports this decision, which it considers responsible and exemplary.

“Real Madrid is proud of all those who make up this great family and of its unwavering culture of values, which is especially valuable in difficult times such as these.

“The club wishes a quick recovery to all the sick people.”