This Is How Football Clubs Are Surviving the Coronavirus Pandemic - Newslibre

This Is How Football Clubs Are Surviving the Coronavirus Pandemic

As all major football leagues in the world are suspended due to the COVID-19 pandemic, football teams are immensely financially hit by this situation.

One would expect that the clubs would use some of the financial modus operandi that is often used during off season period to survive but again, there are a few games to play then.

With zero sporting activity taking place at during the coronavirus pandemic, clubs’ weekly and monthly budgets are falling into deficits due to heavy reliance on match day incomes hence making payments of the playing, technical and support staff difficult at the moment.

Many clubs have come up with different ways to curb this rising problems with most proposing pay cuts of up to 50% on all their staff.

As of last week, FC Sion laid off nine players who refused to take a pay cut. Scottish club, Hearts of Edinbruh owner Ann Budge also announced that all players and staff will be required to take a pay cut or else get freed from their contracts by the club.

Football clubs making pay cuts, laying off staff and players to maintain financial stability

This Is How Football Clubs Are Surviving the Coronavirus Pandemic - Newslibre
Hearts captain Steven Naismith accepted a 50 per cent pay cut to help the club survive during the coronavirus crisis. (Photo: Copyright: 2020 SNS Group) – Newslibre

In Germany, Champions League contenders Borrusia Monchengladbach are leading in the salary cuts wave. “I am very proud of the boys. A clear signal: We are standing together for Borussia in good and bad times,” said Max Eberl, Gladbach’s Sporting Director said on Thursday, after players voluntarily approached him to take pay cuts into to financially support the club in its daily operations.

This pay cut move is also highly considered by other German clubs like Stuttgart.

In Italy, it is reported that players are resisting possible pay cuts while in France, some Ligue 1 clubs are are making technical layoffs amongst their players in order to make financial balances.

In the English League, most clubs have assured their staff that inspite of the financial constraints going on, they will continue to receive their full salaries.

Also read: F1 Launches eSports Virtual Grand Prix Series to Keep Fans Busy

This Is How Football Clubs Are Surviving the Coronavirus Pandemic 1

Author: Katende Basajjabaka

Katende writes about sports and occasionally technology.

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