25% pay cut

Matt Dean is reporting that Grimsby players has agreed a 25% pay cut until we are back playing in front of fans.

Quoted from Davec

Matt Dean is reporting that Grimsby players has agreed a 25% pay cut until we are back playing in front of fans.

Does that mean they all get the temporary pay cut, the government pay up to £2500 (or 80%) of their new wage, and the club, who have zero income right now, pay the remainder?  I assumed the club paid nothing, as most furloughing employers are doing, but someone posted the other day that legally, all EFL contracts have to be paid in full in order to not breach the contract.  I couldn't believe that.

An example would be a player of £1,500/week, so 6K a month.  This would now be £4,500/month, so the club will still have to pay that player £2,000/month until fans are allowed back.  That's still a black hole right there.  Worrying times for all clubs.

We had some Imps on here a few months back saying (boasting) that some of their players were on 5K a week - with no income, that's a black hole that makes ours look trivial in comparison.........

Doesn't mention the furlough scheme so I assume they are not using it.

Wasn’t the furlough scheme and players contracts discussed elsewhere...I think it’s a little more complex, I’d imagine this is a 25% pay cut of their actual salary...

Admirable of the players to agree to this but i suppose they have little option really other than potentially risking bankrupting their employer and losing out in the long run.
If the club enforcd it then i guess they would be breaching contracts,  allowing the players to terminate but again, right now, where would they go that would offer them anything ?

Cannot see that the players had that much of an option to be honest lads....

however hopefully the Promotion Bonus next May should see them ok..

Ollie was the "mystery guest" on talksport's Alan Brazil show this morning and said we have enough to pay the players for 12 months without crowds and can survive for this amount of time due to them taking a pay cut!
Anybody else hear the show this morning?

A tuff decision, to lose 25% of your wages is a big ask. Very admirable they have agreed to it. Maybe the crowdfunding money could help? UTM

Here is what Phillip Day has to say:


https://www.grimsbytelegraph.co.uk/sport/grimsby-town-day-wage-cut-4192501

As he explains, they showed the figures to the players and explained the details. The players readily agreed to taking the cut. Non playing staff have been treated differently,  presumably that means the have been furloughed.

It shows what a special set of players we have at Town.

Did anyone find out if players were ever placed on the furlough scheme?

It may be seen as admirable, it may be seen as necessity, I guess that’s not really important, long term the decisions has been agreed simply to provide some sustainability.

Are there any other clubs where this has happened?