Bradford have announced staff redundancies after a suggestion to cut all wages by 10% was rejected.
A £400,000 hole in the club’s budget has been uncovered by the new owners, and the Bulls may be forced to sell players to balance the books.
Chief executive Robbie Hunter-Paul has confirmed a number of cost-cutting measures, but revealed that the players weren’t asked to take a pay cut, it was merely a suggestion put forward.
He said: “This has been the longest week of my life, but ultimately important for the club’s future.
“It has been well documented that the current board found themselves working with inherited budgets, set on unrealistic financial projections that were simply not reflective of where the club currently stands.
“Surprisingly there was a fair amount of misinterpretation from members of the media this week, suggesting the board had told players they would need to take a wage cut.
“That was completely untrue. The truth was that it was suggested, by members of staff, that before the necessary cuts were made the board would ask all business units managers and staff – that were higher earners – to take a 10 per cent wage cut. That included me as CEO.
“It was not embraced across the business and so the other measures were implemented.
“The streamlining process, which is designed to cut costs and reduce the unrealistic budgets set by the previous administrators, is now under way.”
Hunter-Paul revealed that there had been no approaches, as yet, for any members of the club’s squad.