Premier League top-flights Manchester City have made clear their determination not to furlough any member of their non-playing staff. Furloughing is the act of granting unpaid time off to employers, in order to reduce cost.
This is a bold move after the likes of Liverpool and Tottenham have decided to furlough theirs. The idea of furloughing was brought into play after the government promised to take care of 80% salaries of furloughed staff. City however on their part have made it clear that they have no intention of leaning on the United Kingdom government for financial support. City made it clear through their chief operating officer Omar Berrada.
One of the club’s spokesman came out to say “We remain determined to protect our people, their jobs and our businesses whilst at the same time doing what we can to support our wider community at this most challenging time for everybody.”
According to trusted sources, the City Football Group (CFG), sold a 10% stake in the business to Sliver Lake, a U.S private equity giant, for a prize tag reported to be around 389million euros. And at such have plans on leaning on that fund at this time of dire need.
Is it a good move by city not to rely on government funds?
I would love to get thoughts and comments.
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