Scotland stars take 75 per cent wage cut to save jobs
Saturday 10 March 2012
Steven Naismith and Steven Whittaker yesterday agreed to take 75 per cent wage cuts as the Rangers administrators set about saving £1m a month to keep the club going until the end of the season.
The two Scotland internationals were prepared to make the sacrifice in return for assurances that no staff would be made redundant and for clauses to be entered into their contracts.
It is believed that Allan McGregor and captain Steven Davis are also set to agree to 75 per cent wage cuts, and that two other players earning more than £15,000 per week – Lee McCulloch and Carlos Bocanegra – will do the same.
Most of the mid-earners in the squad have accepted a 50 per cent wage cut, and the low earners a 25 per cent cut. Non-football staff were told yesterday that there would be no redundancies.
Negotiations between the players and the administrators have been ongoing, and a deal was agreed in principle last Tuesday night.
Then the players' agents became involved, though, as the cuts had to be agreed in writing, and there was an impasse over the clauses that were to be inserted in the contracts in return. These ranged from a minimum transfer fee, a cut of future transfer fees and, it is believed, for some players a free transfer in the event of Craig Whyte, the current owner, still being in charge of Rangers post-administration.
A press conference was expected late yesterday afternoon to announce that the entire squad had signed up to the wage cuts. It was delayed while negotiations continued with at least two players, but there was optimism among the administrators that the deals would be concluded.
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