Real Madrid's players, coaches and "main directors" will take a salary cut of 10-20% this year because the club deals with the impact of the coronavirus pandemic.
Football in Spain has been postponed indefinitely since March, when the country declared a state of emergency.
The Spanish club said the choice to cut back pay was "taken by players, coaches and employees" to avoid "traumatic measures that affect the remainder of the workers".
The club's basketball squad have also agreed voluntary pay cuts.
Real reveals the move was "depending on the situation which will affect the closing of this 2019-2020 sports season".
It added the choice would help mitigate a decrease in income "as a results of the suspension of competitions and also the paralysis of an oversized a part of its commercial activities".
It was announced last month that Barcelona players would take a 70% salary cut and make additional contributions to make sure non-sporting staff received full wages.