“Our aim has been to protect the jobs and base salaries of our people for as long as we possibly can. Unfortunately, we have now come to the point where we are proposing 55 redundancies.” – statement
Last Updated: 05/08/20 3:31pm
Arsenal have confirmed they are proposing 55 redundancies due to the impact of the coronavirus pandemic on the club’s finances.
In a statement released on the club’s website on Wednesday, head of football Raul Sanllehi and managing director Vinai Venkatesham said one of the key reasons cutbacks are being made is to “maintain investment in the team”.
The 2019-20 Premier League season was suspended in March, before finally resuming – without fans in the stadiums – in June, leaving clubs without one of their key revenue streams.
The club also cited revenue from broadcasters, matchday and commercial activities had also been disrupted and would continue to have an impact ahead of the forthcoming 2020/21 campaign.
And although players, senior football staff and the executive team had already volunteered to take pay cuts, capital spending stopped and discretionary operating expenditure tightened, it still appears not to have been enough.
The statement said: “Our aim has been to protect the jobs and base salaries of our people for as long as we possibly can. Unfortunately, we have now come to the point where we are proposing 55 redundancies.
“We do not make these proposals lightly and have looked at every aspect of the club and our expenditure before reaching this point. We are now entering the required 30-day consultation period on these proposals.
“We know this is upsetting and difficult for our dedicated staff and our focus is on managing this as sensitively as possible.
“These proposed changes are ultimately about ensuring we take this great football club forward, creating the right organisation for a post-Covid world, and ensuring we have the resources to return to competing effectively at the top of the game here and in Europe.”
The club also revealed they had received ‘significant financial support’ from their owners, Kroenke Sports & Entertainment in terms of refinancing the stadium debt.