Arsenal have announced their intention to make 55 members of staff redundant due to the impact of the coronavirus pandemic.
The Gunners’ head of football Raul Sanllehi announced the news in a detailed statement to fans on Wednesday.
Sanllehi also outlined the impact COVID-19 has had on the club.
He said: “It is now clear that we will be facing more significant and longer-lasting reductions in our revenue than we all hoped.”
The statement read: “Throughout the COVID-19 pandemic we have been working hard to ensure that Arsenal Football Club emerges in a robust and strong position for the future.
“In line with other football clubs and many other businesses operating in the sport, leisure and entertainment arena, we have been impacted directly by COVID-19.
“Our main sources of income have all reduced significantly. Revenue from broadcasters, matchday and commercial activities have all been hit severely and these impacts will continue into at least the forthcoming 2020/21 season.
“The pandemic represents one of the most challenging periods in our 134-year history and we have responded promptly by implementing wide-ranging measures to reduce our costs.
“Our players, senior football staff and executive team have volunteered pay cuts, we have stopped pretty much all of our capital spending, and our discretionary operating expenditure has been strictly controlled.
“We have also received significant financial support from our owners, Kroenke, Sports & Entertainment in terms of refinancing our stadium debt.
“These steps have all reduced the impact of the pandemic on the club and have helped us continue to maintain investment in the team. This will continue to be a key priority.”