Andrea Radrizzani has said the football world faces ‘disaster’ amid the Coronavirus pandemic and has revealed that the club is in talks with players over a salary cut.
The Leeds owner was talking on Gianluca DiMarzio on Tuesday night when he revealed talks had taken place.
In the interview, he was asked about finances in the football world and he replied: “A disaster unfortunately. To be competitive a club like ours loses 8/10 million every year and nobody wants to keep a business that loses money every year. This situation aggravates the budget. Not having five home games we lose about two and a half million pounds which are the only source of revenues.”
In a subsequent report in the Athletic, Phil Hay said that talks had taken place between senior players and Victor Orta and Angus Kinnear over a salary cap of £6,000 for the players – half the Championship average.
He also said, “Leeds have a turnover of around £45 million but their wage bill has risen to almost £40 million as they chase promotion to the Premier League, in part due to the cost of employing head coach Marcelo Bielsa and his staff.”
No agreement has been reached yet but the players are said to be “receptive” to the plan and it is expected to be ratified later this week.
This is a radical cut for the players. The highest-paid players at Leeds are reportedly on around £35k-a-week and this would see them take around an 80% cut in wages.
The interview with Radrizzani spelt out how bad the next six months could be for some football clubs and Leeds are in that mix.
The wage cap would help ease a lot of those problems and we’re pleased that it appears they’re close to an agreement.
The club has then promised to look at the issue of season ticket renewals for fans, with many worried about a big financial outlay in these worrying times.
In other Leeds United news, Leeds striker details how Bielsa is keeping tabs on him during lockdown