I think is situations like this, contracts start to become very shaky. I saw yesterday the US government have essentially taken a bunch of equipment contractually owned by Germany, but are not going to give it back. Contracts become very weakened in these situations.
Aside from that, contracts will be getting breached.I find it hard to believe we fulfil the TV schedule in the manner we are supposed too. Best case scenario I see is we write off 1/4 of this season and have to give that money back. Worst case it may be deemed we've invalidated the whole season.
As regards match day revenue, again assuming these games can't be played again it's around 20% that has been lost. Maybe more for teams still in Europe. Sponsorship too. Liverpool (for example) have highly incentivised targets to hit to acquire most of the funding (and indeed most deals have this in, albeit not as sharply as Liverpool). This targets won't be hit. Sports manufacturers will certainly be looking at options to either reduce, or get out of contracts, as will sponsors. The situation within business the moment is very bleak,and cut backs will have to be made. I haven't gone for the catastrophic position, but it's hard not to see a decline in revenues.
As for players, well there are a number of reasons. Firstly it seems the right thing to do. Secondly for the long term viability in the game, a reduction in wage costs in the short term may prevent a more severe crisis in the medium term. a 30% cut now, may stabilise the game, and allow it to slowly recover. A refusal to cut wages now, and clubs start going out of business, meaning it may be a more brutal cut.
In essence though, even if there aren't an official cut in wages, if we are willing to pay a substantial wage, in a deflationary market we will be competitive. I mean we are used to Real Madrid being all powerful, but their great Spanish rival have just had to agree a 70% cut with their players, probably to stay functional. They will be negotiating from a weak position. I think an offer that is close to 50% of their current terms will be looked at, in each case. I'm not basing it on much more than a gut feeling.
The question is, would Bale at say 250kpw, James at say £125k p/w or Ramsey at say £180k pw (all about half the figures, and bear in mind Ramsey has just agreed 4 months without pay) be a prudent investment on a short term basis? With a manager like Ancelotti, I'm inclined to think yes.
I also think, Koulibaly could be in play, they seem desperate to sell, and desperate to sell in a deflationary market tends to mean 1 thing.