Arsenal are set to make 55 redundancies among club staff in an effort to “take the club forwards” once the coronavirus pandemic eventually comes to an end.
In a joint-statement by the club’s head of football Raul Sanllehi and managing director Vinai Venkatesham, the club said it had been badly affected by the loss in broadcast revenues and matchday income during lockdown.
“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,” they said. “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.
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“We have also received significant financial support from our owners, Kroenke, Sports & Entertainment in terms of refinancing our stadium debt.”
They added the proposal was made to ensure ”we have the resources to return to competing effectively at the top of the game here and in Europe”.
More to follow…