Arsenal have announced they are proposing 55 redundancies due to the ‘significant and long-lasting’ financial implications caused by the ongoing coronavirus pandemic.
The north London club, whose owner Stan Kroenke’s wealth is estimated at £6.3 billion ($8.3bn), confirmed the news in a joint statement released by head of football Raul Sanllehi and managing director Vinai Venkatesham on Wednesday afternoon.
“We do not make these proposals lightly and have looked at every aspect of the club and our expenditure before reaching this point,” said the statement. “We are now entering the required 30-day consultation period on these proposals.