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1964white
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Arsenal

Post by 1964white »

Screenshot 2020-08-06 at 11.34.04.png

Arsenal plan to make 55 staff redundant because of the financial impact of the coronavirus pandemic

The Gunners' first-team players and head coach Mikel Arteta agreed a 12.5% pay cut in April.

Arsenal's executive team also agreed to waive more than a third of their salaries over the next 12 months.

However, the club say they now face "more significant and longer-lasting reductions in our revenue than we all hoped".

Arsenal added they did not take the decision to propose redundancies "lightly" and had looked at "every aspect of the club and our expenditure before reaching this point".

"We know this is upsetting and difficult for our dedicated staff and our focus is on managing this as sensitively as possible," the club concluded in a statement.

The redundancies are in the football, commercial and administration departments, with the majority coming in the latter two.

There will also be cuts to staff benefits, capital projects and discretionary projects, but investments will continue to be made in the playing staff and Arsenal's transfer plans are unaffected.
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Re: Arsenal

Post by Ratscoot »

Think they’ll be a lot of clubs cutting staff in the coming months, hard times are on the way for many both in and out of football :cry:
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Re: Arsenal

Post by Gandalf »

They could just get rid of Ozil and his wage, and everything would be sorted.
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1964white
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Re: Arsenal

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Another reason why the transfer market will be flat for the majority of clubs this autumn

How the clubs will survive outside the prem god only knows
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Re: Arsenal

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Gandalf wrote: Thu Aug 06, 2020 11:59 am They could just get rid of Ozil and his wage, and everything would be sorted.
Who would be prepared to offer Ozil's excessive wage demands Gandi?
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Re: Arsenal

Post by Fridge »

Arsenal’s owner is worth £8.5 billion.

Lets assume that each staff member was on £50,000 (an overestimate).

Wage bill for that is £2.75m per year.

Arsenal’s owner could pay those wages for 2,700 years and still be a billionaire.

Simply no excuse for it. Especially when the club are about to sign off on huge wages for the likes of Willian and a pay rise for Aubameyang.
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Re: Arsenal

Post by mothbanquet »

Gandalf wrote: Thu Aug 06, 2020 11:59 am They could just get rid of Ozil and his wage, and everything would be sorted.
Absolute madness. There's a cautionary tale in there somewhere...
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Re: Arsenal

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Fridge wrote: Thu Aug 06, 2020 12:29 pm Arsenal’s owner is worth £8.5 billion.

Lets assume that each staff member was on £50,000 (an overestimate).

Wage bill for that is £2.75m per year.

Arsenal’s owner could pay those wages for 2,700 years and still be a billionaire.

Simply no excuse for it. Especially when the club are about to sign off on huge wages for the likes of Willian and a pay rise for Aubameyang.
The reason he is so rich :( their tight with their money & are prepared to trample all over employees for even more gain. Greed more greed & even more greed!
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Re: Arsenal

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1964white wrote: Thu Aug 06, 2020 7:03 pm The reason he is so rich :( their tight with their money & are prepared to trample all over employees for even more gain. Greed more greed & even more greed!
I came across this calculator yesterday.

https://simpletexting.com/tech-ceo-salary/

You pick a CEO, enter your yearly salary and click to see how long it takes him to earn that amount.
It is truly mind boggling!
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Re: Arsenal

Post by Boo Radley »

There’s an interesting article in The Athletic about this today. While people are being let go in many departments it’s their scouting department that is being targeted in these redundancies in particular, and that is amazing and short sighted.

Arsenal are more dependent on ticket and stadium spending on match days than any other Premier League club at 23% of their total income. This, of course, has been thrashed this year and left them in a pickle.

The owner, Stan Kroenke, has recently stepped in to refinance the stadium debt. It seems he actually paid it off and the club are now paying the mortgage to him at a lower interest rate. Some claim this is saving them millions every year. It still jars that he wouldn’t step up for the period of the virus crisis and keep the staff levels steady. The other thing that is really bothering Arsenal fans is that there have been no redundancies in any of the rest of Kroenke’s sports clubs, all in the USA.

There’s a warning here for us for the future around controlling wages and stadium developments, as well as the illusion of getting a billionaire owner.
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Re: Arsenal

Post by whiteswan »

Don't start me off on Kroenke...and where a lot of his fortune comes from. Despicable man in my opinion :x ( and that's me being generous!)
Couldn't give a toss about Arsenal
Last edited by whiteswan on Fri Aug 07, 2020 12:09 am, edited 1 time in total.
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Re: Arsenal

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Fridge wrote: Thu Aug 06, 2020 12:29 pm Arsenal’s owner is worth £8.5 billion.

Lets assume that each staff member was on £50,000 (an overestimate).

Wage bill for that is £2.75m per year.

Arsenal’s owner could pay those wages for 2,700 years and still be a billionaire.

Simply no excuse for it. Especially when the club are about to sign off on huge wages for the likes of Willian and a pay rise for Aubameyang.
Amen, brother.
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Re: Arsenal

Post by Chilli D »

This is, unfortunately, the shape of things to come not just in the football world but in all walks of life.
The job situation will get even worse at the end of October when the furlough scheme ends and companies let people go because they can't afford to pay them.
It is an almost daily occurance now when you hear about a large company making people redundant, WH Smith being the latest letting 1500 go.
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Re: Arsenal

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And yet we'd all get down on our knees and worship at the alter of QVC if they bought us, desperate as we are to join the big boys again. Personally I'm happy with Rads, small sums of money played for new players and building a dynasty via the academy.
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Re: Arsenal

Post by SG90 »

1964white wrote: Thu Aug 06, 2020 12:01 pm Another reason why the transfer market will be flat for the majority of clubs this autumn

How the clubs will survive outside the prem god only knows
I honestly think we'd have gone under without promotion. It would've been very scary, especially as we're reliant on fans turning up.
I promise to be positive only for 20/21 :)
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Re: Arsenal

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faaip wrote: Fri Aug 07, 2020 3:51 pm And yet we'd all get down on our knees and worship at the alter of QVC if they bought us, desperate as we are to join the big boys again. Personally I'm happy with Rads, small sums of money played for new players and building a dynasty via the academy.
Not me. I was against QSI from day one. I'd said all along, as long as we're well run and in good financial shape, we don't need a sugar daddy. I don't think Radz is perfect by any means, but still preferable to QSI and any of that ilk.
I promise to be positive only for 20/21 :)
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Re: Arsenal

Post by faaip »

SG90 wrote: Fri Aug 07, 2020 4:00 pm Not me. I was against QSI from day one. I'd said all along, as long as we're well run and in good financial shape, we don't need a sugar daddy. I don't think Radz is perfect by any means, but still preferable to QSI and any of that ilk.
:tup:
I wanted to flash this watch, I flash it all the time. It's my antique pocket watch and it makes me look British...and I need that for my analysis. It is a gorgeous gold pocket watch however and I'm very proud of it. You see my grandfather, on his death bed, ..sold me this watch!
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Re: Arsenal

Post by andrewjohnsmith »

That whole Arsenal situation stinks. The people they're laying off rent just employees, they're the local community and the fans. They should get their house in order before they start offering huge blockbuster deals to players.
We've been through it all together. And we've had our ups and downs
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Re: Arsenal

Post by whiteswan »

SG90 wrote: Fri Aug 07, 2020 4:00 pm Not me. I was against QSI from day one. I'd said all along, as long as we're well run and in good financial shape, we don't need a sugar daddy. I don't think Radz is perfect by any means, but still preferable to QSI and any of that ilk.
Me neither! Happy with what Radz is doing at the mo.
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