The move follows that of La Liga rivals Barcelona, whose first team also accepted wage cuts of 70 per cent this week.

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The cut to Atletico players’ wages will help to support 430 non-playing employees. The cut also affects women’s first-team players, players at the club’s B team, and the coaching staff for all three teams concerned.

The statement read: "The filing will mean a 70 per cent reduction in the salaries of technicians and players of the men's first team, the women's first team and Atletico de Madrid B, while the declaration of the State of Emergency lasts.

"From the outset, the club's objective in studying possible measures to deal with this delicate situation has been to minimise its effect on the salaries of its employees as much as possible.

"The agreement reached with the first team will also allow [for] supplementing the salary of 430 employees affected by the ERTE, a complement from which only players and coaches from professional teams are excluded.

"To make this possible, the first squad will contribute half the necessary amount and the members of the club's management committee, made up of the chief executive and the directors of the different areas, the other half. "

Atletico lie sixth in the standings of a suspended LaLiga, while their final outing before football's continent-wide shutdown was a thrilling 3-2 extra-time victory over Liverpool at Anfield – sealing a place in the quarter-finals of the Champions League with a 4-2 aggregate triumph.