Perez's quick action saved Real Madrid from financial crisis despite drop in income

According to AS, Florentino Perez's swift action during the Covid-19 pandemic has helped Real Madrid stay financially stable despite a significant drop in income from ticket revenue.

With games being held behind closed doors, Los Blancos have missed out on a huge chunk of their earnings. However, AS notes that the decision to hand out pay-cuts while focusing on a transfer clear-out has been beneficial.

Currently, Madrid spend as much as €456m in salaries for over 800 workers, leading to an Efficiency Ratio (cost of wage bills when compared to total operating income) of 55% - which is recommended to stay below 70%.

The Whites have also registered the highest score in the Football Club Transparency Index - which is yet another win for Perez and the rest of the board.