Arsenal proposes 55 redundancies due to COVID-19, says changes ultimately about taking great football club forward

The Arsenal Football Club on Wednesday (August 5, 2020) said that they are proposing 55 redundancies and that these proposed changes are ultimately about 'ensuring they take this great football club forward'.

They said the reason behind the proposal is the 'impact of the COVID-19 on football clubs' and 'many other businesses operating in the sport'.

The club that recently lifted their 14th FA Cup trophy said in an official statement, "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." 

They said that the coronavirus pandemic represents one of the most challenging periods in their 134-year history and that they have responded promptly by implementing wide-ranging measures to reduce their 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," stated Arsenal.

The statement jointly issued by Arsenal's Head of Football Raúl Sanllehi and Managing Director Vinai Venkatesham read that they have also received 'significant financial support' from the owners, 'Kroenke, Sports & Entertainment' in terms of refinancing their stadium debt.

"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," it said.

The English Premier League club said that it is now clear that they will be facing more significant and longer-lasting reductions in their revenue than expected as the current indications are that they will not have fans back at the Emirates Stadium for the start of next season, adding that the fans will only be able to return in limited numbers after that. 

"The global economic projections are also very negative," stated Arsenal.

They added, "We all hope there will be no “second wave” but we also need to accept that is one of the many uncertainties ahead of us and plan accordingly." 

The club that has won 13 Premier League titles said that over recent years they have consistently invested in additional staff to take the club forward but with the expected reduction of income in mind, it is now clear that they must reduce the costs further to ensure they are operating in a sustainable and responsible way, and to continue to invest in the team.

"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," said Arsenal.

They said that they are now entering the required '30-day consultation period' on these proposals.  

"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," said Arsenal.