Wakefield have agreed salary cap reductions with 30 of 33 players ahead of their return to training on Monday.
Trinity chief executive Michael Carter says the revised terms amounted to an average net monthly reduction of 16.3% across the squad, with the club set to review the position in September.
Carter said: “Discussions have been ongoing for a couple of weeks and I would like to pay tribute to captain Jacob Miller and his fellow leadership group for their understanding at a time when club finances are still unstable.
“On the back of the government job retention scheme last week, and also the fantastic reaction from our season ticket members where just 33 people have indicated that they would seek a refund, I was able to put a revised scheme together that enhanced the player’s salaries, and protected completely the younger members of the squad.
“The vast majority of the squad have accepted this and there will be further reviews in September should circumstances change further. This now means that the average net monthly salary reduction is 16.3% across the squad, and the net annual reduction will be 11.3% of take home pay. I’d like to thank the players that have accepted and look forward to a return to training on Monday.
‘I’d also like to add that I have been in constant dialogue with the captain about the new players that we have brought to the club for this season. He understands that in no way have these signings had a detrimental effect to the cuts that players and staff have had to take.
“Through a mixture of self-financing, sponsorship and the furlough scheme, we have managed to bring players in on a cost-neutral basis, and the captain was very understanding of this. I want to re-iterate that we are not increasing the cost base of the club whilst asking players and staff to take salary cuts.
“Let us all now concentrate on getting the season back up and running, and look forward to a time when we can have supporters back in the stadium. We all want to enjoy an exciting 2020 and 2021 season, after everything that everybody has been through.
‘Once again, I would just like to thank everyone, the board, players, staff, sponsors, and supporters for all doing their bit through this crisis. Without all of you pulling together, we wouldn’t have made it through. Stay safe and I look forward to seeing everyone in the not too distant future.”
Wakefield’s first game back in action will be against Wigan on Sunday, August 9.
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