Wycombe chairman fears losing over £2.5million during coronavirus pandemic
Furloughed staff have been encouraged to find alternative employment once the Government scheme ends.
Wycombe have advised their furloughed staff to look for alternative employment once the Government scheme ends.
The League One club, who are warning of losses in excess of GBP 2.5million because of the coronavirus pandemic, have also said they can no longer afford to make up their salaries to 100 per cent.
Chairman Rob Couhig said on the club’s official website: “The club has essentially been without revenue since the beginning of March. Our loss of revenue even with the utilisation of the furlough plan has exceeded GBP 1m through the end of May.
Chairman @RCouhig has issued a statement to #Chairboys supporters, having earlier today informed the Club’s Board of Directors, Manager and employees of its current financial status and the steps he has implemented to preserve the Club’s future: https://t.co/8q0X4ExRkG
— Wycombe Wanderers (@wwfcofficial) June 1, 2020
“On a going-forward basis, we anticipate our loss of revenue will continue at the rate of GBP 350,000 a month.
“While no one really knows for sure when we will be able to return to playing in front of crowds, it seems reasonably certain that it will not happen until at least September and many speculate not until at least December.
“It is apparent that the club’s losses as a result of the Covid-19 outbreak may exceed GBP 2.5m. If we are required to play games behind closed doors, whether to try to complete the season or in play-offs, these costs will go up.
“We have informed all our non-football staff presently on furlough that their pay will be limited to that which we receive from the furlough plan.
“Through May 31, everyone has received 100 per cent of their pay. The club has made up the difference.
“Going forward, these furloughed employees will receive 80 per cent of their salary with a maximum payment of GBP 2,500 per month. We are also recommending that they begin the search for alternative employment once furlough ends.”
Wycombe’s fate on the pitch this season remains up in the air as League One clubs have still yet to vote on whether to end the season, with a decision not likely to come for another week.
The Chairboys have indicated they will vote for it to end, even though that would mean they will be involved in the play-offs, which would be set by a points-per-game basis.
If they are involved in the play-offs, they will be without loanee Jason McCarthy, who Couhig says they cannot afford to pay any more
“I have also informed our manager (Gareth Ainsworth) that the club will be without the services of Jason McCarthy.
“Jason is a wonderful player and a terrific guy. He was on loan to us from Millwall.
“While they and he were willing to extend the agreement through the remainder of this season, and he would unquestionably be helpful if play resumes in any circumstances, we simply can’t afford him.
“I am confident that the remainder of the team can achieve success when we are allowed to return.
“The club will survive this crisis as it has in the past. However, it will only do so by taking hard necessary steps to deal with the reality of our economic situation.”
