England champion to cut staff amid club bankruptcy threat
Arsenal plans to lay off 60 employees in order to save money, more than in the coronavirus pandemic. In February, the club reported record revenue, and last week extended the contract with Arteta on favorable terms for the coach
The reigning champion of England, London “Arsenal” has notified staff of the planned staff reduction, despite the title won and the February report of record revenue for 2024-2025, writes The Athletic.
The club will reduce 60 positions in several units to save money, but the layoffs will not affect coaches and staff of the men's and women's teams.
The announcement of the cuts follows the signing of a new contract with Michel Arteta last week (until 2030), which made the Spaniard the highest-paid coach in the Premier League.
Arsenal will cut even more staff than they did in August 2020 at the height of the COVID-19 pandemic, when 55 people were laid off.
According to a report by the Independent Football Regulator (IFR), the majority of professional English league clubs are on the verge of financial disaster and 20% of Premier League clubs are technically insolvent.
