Arsenal have proposed 55 club redundancies due to the financial impact of the coronavirus.

Arsenal have confirmed the club will make 55 redundant changes following their FA Cup victory over Chelsea, with the north London outfit struggling to cope with the financial impact of the coronavirus outbreak.

A key source of income for the Gunners comes through matchday revenue, which they, along with all other clubs, have not received since March due to restrictions imposed to prevent the further spread of COVID-19.

Playing staff took significant pay cuts during the first lockdown to ease financial stress, but the club have announced they need to make 55 staff redundant to help with their current situation.

An update from your club.

— Arsenal (@Arsenal) August 5, 2020

A statement read: “During the COVID-19 outbreak we are working hard to ensure that Arsenal Football Club emerges in a stronger and stronger position for the future. are directly affected by

“Our main sources of income have all been significantly reduced. Income from broadcasters, matchday and commercial activities has been hit hard and these effects will continue at least until the coming 2020/21 season.

“The pandemic represents one of the most challenging periods in our 134-year history and we have responded quickly by implementing a wide range of measures to reduce our costs. Our players, football Senior staff and the executive team have taken voluntary pay cuts, we’ve put a lot of good work on hold. Much of our capital spending, and our discretionary operating expenses, have been tightly controlled.

“We have also received significant financial support from our owners, Kroenke, Sports and Entertainment in relation to the refinancing of our stadium debt. All of these measures have mitigated the impact of the pandemic on the club and sustained investment in the team. has helped us keep in. This will remain a key priority.

Despite the relief of qualifying for the Europa League, dire conditions in the #AFC with news of 55 redundancies. They will still look to spend money on transfers this summer where possible – an acceptance that needs to improve if the team is to remain financially secure.

— Sam Dean (@SamJDean) August 5, 2020

“It is now clear that we will face a much more significant and long-lasting decline in our income than we all expected. There will be limited recovery after that. Global economic projections are also very negative.

“This will impact the disposable income of our fans, the amount of money corporate clients can spend on hospitality and sponsorship, and the ability for broadcasters to invest in TV rights. In recent years we have taken the club forward. We have continued to invest in additional staff to get going but bearing in mind the expected reduction in revenue, it is now clear that we must reduce our costs further to ensure that we operate in a sustainable and responsible manner. are working, and to enable us to continue to invest in the team.

“Our goal is to protect our people’s jobs and base salaries as long as we possibly can. Unfortunately, we have now reached the point where we are proposing 55 redundancies. Every aspect of the club and our costs before it comes in. We are now entering a 30-day consultation period on these proposals.

Arsenal clinch the FA Cup title and European qualification this season / James Williamson – AMA/Getty Images

“We know this is stressful and difficult for our dedicated staff and our focus is on handling this as sensitively as possible.

“These proposed changes are ultimately about ensuring that we take this great football club forward, build the right organization for the post-Covid world, and ensure that we have the right players here and in Europe. Have the resources to compete effectively at the top of the game.”

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