Bayern Munich chairman Karl-Heinz Rummenigge has confirmed that the club will impose a pay cut on its players following a disappointing 2003-04 campaign.
“The volume of salaries has to be reduced by 15 to 20 percent,” Rummenigge told Sport Bild.
Bayern are 11 points behind leaders Werder Bremen with nine matches left and have also been knocked out of the German Cup and the Champions League.
Most German clubs are facing financial difficulties, mainly because of a drop in revenue from television rights.
“Expiring contracts will not be renewed under the old conditions,” Rummenigge said.
“We won’t do crazy things any more.”
Rummenigge refused to confirm or deny that coach Ottmar Hitzfeld would be in charge at the club next season.
“Second place (in the Bundesliga) would not automatically mean he stays, nor would third place signify he has to leave immediately,” said Rummenigge.
