Sergio Ramos has been one of the faces of Real Madrid for more than a decade. The Spanish centre back has been of the key members of the Real Madrid since his switch to the Santiago Bernabeu in 2005. Madrid have seen the departure of several icons in recent years and it has been rumoured that Ramos could join that list in the coming summer. The 34-year-old’s contract runs out in the summer and Madrid have had discussions over an extension for a lengthy period without any resolution.
Ramos is one of the players with a large contract. Soon to be 35, he is at the twilight of his career. Aware of the situation, Madrid have offered the former Real Betis player a one-year extension while also reducing his wages from €12 million (after taxes) to €10 million, according to reports. Ramos, though, is holding out for a two year contract while trying to retain his wages at the same €12 million (after taxes).
Barcelona and Real Madrid might have been the big spenders in world football for a while. However, the coronavirus pandemic has brought about a major shift in their financial game. Barcelona have had to undergo drastic reductions in wages for their players to keep the club in a sustainable position. Madrid are in a similar situation with president Florentino Perez keen on reducing the wage bill by about €40 million per year.
The difficult financial situation at Real Madrid has already been felt by manager Zinedine Zidane, who has had little to rejoice in the transfer market. This is a sharp contrast to previous years when Madrid constantly found themselves breaking transfer records. Ramos is free to begin negotiations with foreign clubs. There are rumours of interest from Manchester City and PSG. Madrid, though, are not in a hurry to conclude negotiations with their captain.