Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

West Ham staff face pay reductions of up to 25%

Tue 9th Feb 2010 | Money & Finance

West Ham co-owner David Sullivan has made it clear today that players and management staff will be asked to take a salary cut even if the club avoids relegation from the Premier League and has warned that it will be "Armageddon" if the Londoners go down.

It’s assumed that staff could be forced to take pay cuts of up to 25%. "Everyone will be asked to take a cut this summer," Sullivan told the Sun newspaper.

High earners such as Scott Parker and Kieron Dyer, who reportedly take home around £65,000-a-week are among those who may be affected, as well as the England defender Matthew Upson.

The full scale of the financial crisis at Upton Park is made clear in documents which the paper claims reveal the club owes £15m to other teams in outstanding fees for its current squad assembled for a costly £75m.

"It'll be Armageddon if we go down. It'll be worse than what's gone on at Newcastle," said Sullivan. "I can't believe the contracts I've inherited. Every position is overpaid, whether in administration or on the playing side. All are earning more than they would at other clubs.

"We have made cutbacks already but may have to make another 20 or 30 people redundant by the summer. We have already had people in senior positions offer to take a voluntary 25% reduction to keep their jobs. It's been gratefully accepted. If someone is doing a good job but is overpaid you still want to keep them. But many people at the training ground should take a voluntary pay cut. There's an army of people supporting the first team. Everyone at the club will be asked to take a salary cut in the summer. The club is in a mess and we all have to pull together. If we go down I can't even consider the situation."

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

West Ham Champions Of Season Ticket Affordability

Wed 19th Jul 2017 | Money & Finance

With the new Premier League season approaching it promises to be another exhilarating season, full of twists as well as surprises for fans. Chelsea convincingly captured their fifth Premier League...

Everton Sign Landmark Stadium Financing Partnership

Thu 6th Jul 2017 | Money & Finance

Everton Football Club has signed an agreement with ICBC (London) plc and Industrial and Commercial Bank of China Limited, which will provide the Premier League club with a £60m 3-year credit...

How Football Clubs Source Their Revenue

Thu 22nd Jun 2017 | Money & Finance

It will come as a surprise to no one that football is big business these days. Although players’ wages – especially at the top teams – have increased remarkably, the clubs can pay...

“Why Does Your Club Offer Discounts?” 5 Responses

Tue 6th Jun 2017 | Money & Finance

Following my article last week on the 3 observations about discounts offered on football clubs’ merchandise stores ; I wanted to share some more insight in to the merchandise space. I’ve...