Bayer Leverkusen players, staff and management unanimously agreed to take an unspecified wage cut. EPA
Bayer Leverkusen players, staff and management unanimously agreed to take an unspecified wage cut. EPA
Bayer Leverkusen players, staff and management unanimously agreed to take an unspecified wage cut. EPA
Bayer Leverkusen players, staff and management unanimously agreed to take an unspecified wage cut. EPA

Football

Bayer Leverkusen follow Bayern Munich and Barcelona by introducing pay cuts during coronavirus lockdown

Play in the Bundesliga has been suspended since mid-March and the DFL on Tuesday extended the league suspension until at least April 30

The National

April 01, 2020

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German Bundesliga club Bayer Leverkusen have become the latest major football club to introduce pay cuts after players, staff and management agreed unanimously on Wednesday to unspecified wage reductions.

Other German clubs including champions Bayern Munich, Borussia Dortmund, Union Berlin, and Borussia Monchengladbach recently introduced similar wage cuts, as have Spanish sides Barcelona, Atletico Madrid, and Espanyol, and Italian champions Juventus.

"The team is ready to waive part of the salaries in order to support the club in its efforts to financially overcome the corona crisis," Leverkusen captain Lars Bender said in a club statement following a makeshift training session where players trained only in pairs. Team training cannot resume before April 5.

"We again got a very concrete idea in the empty BayArena stadium today about how important the various colleagues are in breathing life into the club and how important each and every one of them is in providing us with ideal conditions to do our job."

Play in the Bundesliga has been suspended since mid-March and the German Football League (DFL) on Tuesday extended the league suspension until at least April 30.

The DFL has also hinted that should play resume in the coming weeks or months, it would most likely be without spectators.

_______________________

Barcelona, Juventus and other major clubs to introduce wage cuts 

Lionel Messi and his Barcelona teammates have agreed to take a pay cut as have Barcelona's basketball first team. AFP
Lionel Messi and his Barcelona teammates have agreed to take a pay cut as have Barcelona's basketball first team. AFP
Juventus announced that all first-team players and manager Maurizio Sarri would take a one-third pay cut for the next four months. EPA
Juventus announced that all first-team players and manager Maurizio Sarri would take a one-third pay cut for the next four months. EPA
Atletico Madrid confirmed that the first team and staff would be taking pay cuts to help the club continue to pay other workers during the lockdown. AFP
Atletico Madrid confirmed that the first team and staff would be taking pay cuts to help the club continue to pay other workers during the lockdown. AFP
Espanyol announced pay cuts for sporting staff, including the men's and women's first team, reserve teams and Under-19s. EPA
Espanyol announced pay cuts for sporting staff, including the men's and women's first team, reserve teams and Under-19s. EPA
Borussia Monchengladbach players have taken a wage cut after the players offered to forgo wages to help other workers at the club. "The team has offered to forgo salary if it can help the club and the employees," the club's managing director Stephan Schippers said. EPA
Borussia Monchengladbach players have taken a wage cut after the players offered to forgo wages to help other workers at the club. "The team has offered to forgo salary if it can help the club and the employees," the club's managing director Stephan Schippers said. EPA
Borussia Dortmund confirmed that the first team will "waive part of their salaries", the club announced. AP Photo
Borussia Dortmund confirmed that the first team will "waive part of their salaries", the club announced. AP Photo
Bayern Munich announced that the first team football squad would take a 20 per cent pay cut. Getty Images
Bayern Munich announced that the first team football squad would take a 20 per cent pay cut. Getty Images
Union Berlin announced that their first team squad would go entirely without wages, although there was no timescale for how long. Reuters
Union Berlin announced that their first team squad would go entirely without wages, although there was no timescale for how long. Reuters
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If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

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