All Sheffield United players will get a 50 percent wage cut this summer.
That’s according to Alan Biggs, who writes in his column in The Sheffield Star that a clause dictating such is written into the contract of every member of the Blades squad.
It was recently reported that some of the players were in line to have their wages slashed in half.
But it now seems that every single one of them will be financially punished by relegation.
Dropping out of the Premier League does result in a massive hit to revenue and the club clearly need to recoup that somehow.
Forecasts claim that United could be as much as £57m worse off next season in the Championship, compared to this term in the top flight.
This is largely because of the reduced money received from broadcasting rights. The Blades earned around £8m from TV when they were in the second tier in 2018/19. That jumped to £117m following promotion.
They will receive £42m next campaign in parachute payments to soften the blow. But money will still be much tighter.
Wage cut shows Sheffield United were always planning for the drop
United were cautious in terms of financial outlay when they were promoted two years ago.
Their wage bill in 2019/20 was the lowest in the division at £78m. Which makes their eventual ninth place finish that season all the more impressive.
Yet their signings and subsequent player contracts always had one eye on a possible drop back down.
Which of course has become reality in 2020/21.
When the Blades were last in the Championship their wage bill was £41m. That almost doubled following promotion, while the squad received healthy bonuses.
It therefore makes financial sense that wages would be halved following relegation.
But it still remains a massive hit for those players on the receiving end of it.