Talks broke down on Monday night with players failing to come to agreement on proposed wage cuts as administrators aim to cut costs at the club by £1million stg per month. One suggestion was that wages be deferred until the end of the season but that has been refuted as ”not a viable option.”
Joint administrator Paul Clark said in a statement Monday night: “Everyone involved in the administration process has been attempting to reach a consensual solution in regard to job losses within the playing squad. The prime reason for this has been to achieve essential cost savings while preserving the fabric of the first team. To be clear; legally we cannot enforce wage cuts. The players must agree to this course of action.”
It is thought that some players have been asked to take a pay cut of as high as 75%.
Joint Administrators Duff and Phelps had previously set Monday night as a deadline for a decision and said job losses were likely after refusing a request to allow wage deferrals. However, former director Paul Murray, who has held talks with administrators over forming a takeover consortium, urged Duff and Phelps to consider deferrals as player redundancies would leave new owners with an expensive rebuilding job.