Porto keeper Iker Casillas will not continue at the Portuguese giants beyond the end of the current season when his contract expires due to the requirement to cut costs.
Porto’s communications director, Francisco J. Marques, explained on Saturday that due to the club’s parlous financial situation there is a need to get players on big-money contracts off the club’s books.
“For some time now the club has been spending more money than it should have done and we are required to cut costs, above all on player salaries, which accounts for the most significant amount,” Marques said during an interview with A Bola.
“But these contracts remain active. Who costs the largest amount of money? The players. We will only be able to balance the books when contracts end. For example, Casillas’ contract expires at the end of the season,” Marques said, adding that in the case of the former Real Madrid keeper Porto had handed him “a very large contract.”
“We will pay contracts religiously until they end, we have no alternative, but when they come to an end we will make millions of euros of savings annually,” Marques concluded.
Casillas signed for Porto from Real Madrid on a free transfer in 2015 and was undisputed first choice in his first two seasons in Primeira Liga. However, he was dropped earlier in 2017-18 by Sergio Conceiçao and only recovered his starting spot in February.
However, Casillas made a vital save in the 2-1 victory over Sporting Lisbon on Friday night as Porto extended their lead at the top of the table over Benfica to eight points as Os Dragões seek a first Portuguese title since 2012-13.