Arsenal to make 55 redundancies but claim investing in the team remains ‘key priority’

first_imgAdvertisement Arsenal to make 55 redundancies but claim investing in the team remains ‘key priority’ Metro Sport ReporterWednesday 5 Aug 2020 2:38 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link667Shares View 5 comments Arsenal have announced their intention to make 55 club staff redundant (Picture: Getty)Arsenal have announced their intention to make 55 members of staff redundant as the club continues to count the cost of the coronavirus pandemic. Although the Gunners confirmed their place in the Europa League, a competition which could generate and extra £30million in revenue next season, by winning last Saturday’s FA Cup final against Chelsea they have been hit hard by a lack of matchday revenue. The overwhelming majority of the first team squad agreed to take a pay cut of up to 12.5% back in April, but with fixtures likely to be played behind close doors again come the start of the 2020/21 campaign the lack of matchday revenue forced the club into making cuts.AdvertisementAdvertisement‘In line with other football clubs and many other businesses operating in the sport, leisure and entertainment arena, we have been impacted directly by COVID-19,’ read a statement on the club’s official website.ADVERTISEMENT‘Our main sources of income have all reduced significantly. Revenue from broadcasters, matchday and commercial activities have all been hit severely and these impacts will continue into at least the forthcoming 2020/21 season.center_img Arsenal will find it hard to find a take for Mesut Ozil who earns £350,000-a-week (Picture: Getty)‘These steps have all reduced the impact of the pandemic on the club and have helped us continue to maintain investment in the team. This will continue to be a key priority.’After last month’s win over Liverpool, manager Mikel Arteta implored the club’s board to hand him the funds that would help him to accelerate what remains a major rebuilding job.Last week’s Wembley win over Chelsea has only strengthened his hand and the club are reportedly working on deals to sign Willian from their west London rivals and Philippe Coutinho from Barcelona. More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalGabriel Magalhaes, Lille’s Brazilian centre-half, is another reported target, while the club hope to raise funds from the potential sales of Matteo Guendouzi, who hasn’t featured since a breach of discipline following a recent defeat against Brighton.AdvertisementAdvertisementFinding a taker for Mesut Ozil, who earns £350,000-a-week despite not playing a single minute over the course of Project Restart, will represent a near impossible task, however, with his agent recently claiming his client is willing to run down the remaining 12 months of his contract. MORE: Antoino Rudiger claims Chelsea will miss Arsenal transfer target Willian if he leavesMORE: Barcelona ramping up transfer talks with Arsenal over Philippe CoutinhoFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Arsenal are pressing ahead with plans to sign Willian despite their financial plight (Picture: Getty)‘The pandemic represents one of the most challenging periods in our 134-year history and we have responded promptly by implementing wide-ranging measures to reduce our costs. Our players, senior football staff and executive team have volunteered pay cuts, we have stopped pretty much all of our capital spending, and our discretionary operating expenditure has been strictly controlled.‘We have also received significant financial support from our owners, Kroenke, Sports & Entertainment in terms of refinancing our stadium debt.‘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.’Despite the impending job losses, Arsenal were at pains to stress that investing in and adding to the current squad remains a ‘key priority’. ‘We have also received significant financial support from our owners, Kroenke, Sports & Entertainment in terms of refinancing our stadium debt,’ the statement added. Advertisementlast_img

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