Arsenal Football Club has informed staff of plans to cut at least 60 jobs, a decision made just five days after manager Mikel Arteta signed a new contract reportedly worth £20m per year. The redundancies will not affect the football department, which accounts for more than half of the club's outgoings.
Staff members had reportedly anticipated job cuts following a review by the consultancy firm Boston Consultancy Group earlier this year. Despite a club-record revenue of £691m in the last accounts, with expectations to reach £800m next, insiders suggest these cuts may remove "more muscle than fat."
The move has been described by one insider as focusing on the 10 per cent of the club where most people are on everyday wages. This contrasts with the significant investment in the football side, including a planned move for Real Madrid forward Vinicius Jr in the summer.