Arsenal proposes 55 redundancies as financial crisis bites hard

Arsenal proposes 55 redundancies as financial crisis bites hard

The effects of the recent Coronavirus pandemic continue to be felt in world football, with Arsenal the latest to propose 55 redundancies.  

In a statement on Wednesday, the club head of football Raul Sanllehi and managing director Vinai Venkatesham said their main sources of income have all reduced significantly, therefore forcing their hand. 

"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,"

"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,"

The 2019/20 season was hugely hit by the novel virus, resulting in a three-month suspension until June 17 when action resumed. 

The clubs' other key revenue stream -fans in the stadium- was also blocked, as all matches were played behind closed doors. 

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