London, 6 August 2020 (dpa/MIA) – Arsenal announced on Wednesday that they plan to make 55 staff redundant because of the financial impact of the coronavirus pandemic.
Arsenal‘s executive team and its first team players already agreed to a 12.5-per-cent pay cut in April, but the club says further trimming of expenditures and staffing will be necessary.
The remainder of the 2019-20 campaign was completed without fans behind closed doors, which has significantly decreased income for many clubs.
It is unlikely that fans will return for the start of the 2020-21 campaign from September 12. The British government is only considering limited capacities, potentially from October.
Arsenal, who claimed a record 14th FA Cup in a 2-1 victory over Chelsea, said that their Emirates Stadium debt has had to be covered personally by the club’s owner Stan Kroenke.
“It is now clear that we will be facing more significant and longer-lasting reductions in our revenue than we all hoped,” read a club statement.
“We must reduce our costs further to ensure we are operating in a sustainable and responsible way, and to enable us to continue to invest in the team.
“We do not make these proposals lightly and have looked at every aspect of the club and our expenditure before reaching this point.”
The club will now enter a 30-day consultation period to discuss the proposals with staff.