Shares in Italian football giants Juventus surged on March 30 after the club's decision to cut their players' salaries in the midst of the coronavirus pandemic. The Serie A champions announced on March 28 that they had cut their players' and coach Maurizio Sarri's salaries from March until June after all Italian sport was suspended. The club's shares rose by 7.94 percent on the Milan Stock Exchange early on March 30 in a market that has taken a major hit from the coronavirus crisis.
Juventus' highly-paid stars include five-time Ballon d'Or winner Cristiano Ronaldo and Wales midfielder Aaron Ramsey, who joined from Arsenal on a free transfer last year.
"The economic and financial effects of the understanding reached are positive for about 90 million euros ($100.5 million) for the 2019/2020 financial year" the club had said in a statement.
Juventus, who led second-placed Lazio by a point in Serie A before the suspension on March 9, added that should the season be finished later in the year, the players could be paid extra in those months.
Over 10,000 people have died from COVID-19 in Italy, more than in any other nation.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.