The Ospreys can announce the measures taken to reduce its costs due to the unprecedented financial demands placed on rugby in Wales due to the current coronavirus crisis.
With the Guinness PRO14 postponed and no games on the immediate horizon there has been a major revenue squeeze on the Ospreys business due to government lockdown.
The Ospreys have undertaken a major review of its business and identified the need to make significant financial savings over the next three months.
While staff and player welfare and safety has been the top priority since the government lockdown was introduced, the Ospreys have felt it prudent and necessary to introduce a major plan of cost savings throughout the business to address its revenue freeze ahead of a return to rugby.
The major measure of cost saving across the Ospreys business will see staff take a 25 percent pay cut from the beginning of April.
“These are unprecedented times for all of us and they call for extraordinary action to address the financial pressure being placed on all businesses, not just rugby,” said Ospreys Managing Director Andrew Millward.
“This decision wasn’t taken lightly and we are all aware of the strains everybody is under at this time, but we also have a duty to navigate the current situation to make sure the Ospreys future as a business is secure for the generations to come.
“All businesses are feeling the strain and have difficult decisions to make and I am grateful to all the Ospreys employees for understanding why we have felt it necessary to take such action and for the work they continue to do at such a difficult time.
“All of us at the Ospreys remain committed to providing the region with a rugby side to be proud of and one fit and firing when we emerge at the end of this crisis.”
The Ospreys decision follows the recent agreement between the Professional Rugby Board (PRB), which represents the regions and the Welsh Rugby Union, and the professional players in Wales.
Welsh rugby’s PRB announced it had reached agreement with the Welsh Rugby Players Association (WRPA) for a 25 percent pay cut for players from April 1st for three months.
The Ospreys training base at Llandarcy has been transformed into a field hospital in a bid to deal with the coronavirus, with 340 hospital beds available for use.
Before the government lockdown, the Ospreys pledged £58,000 worth of kit in partnership with Canterbury to be handed out to local clubs across the region.
The Liberty Stadium in Swansea has also been offered to the emergency services in a bid to help the NHS deal with the coronavirus pandemic.