Cash-strapped Eastleigh call for player loyalty (From Daily Echo)

Cash-strapped Eastleigh call for player loyalty

6:00am Wednesday 15th October 2008 in

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EASTLEIGH director of football Dave Malone has called for a show of loyalty from the club’s players after they were told they will have to take a wage cut from next month.

The bad news was delivered to the playing squad and coaching staff at an emergency meeting late on Monday in response to The Spitfires losing “a six-figure sum” of income from sponsorship as the effects of the credit crunch begin to take hold in the non-league game.

That financial hit was compounded by two cup defeats last week, which cost the Stoneham Lane club £10,500 in prize money.

Director of football Malone also predicted that, with the loss of gate receipts from at least two additional ties, the club has missed out on a total of £20,000.

The double financial whammy resulted in the club having to come up with a way to “reduce the (wage) budget to an amount we are confident of sustaining.”

To help do that, Eastleigh decided to: 1) Immediately release non-contract defender Warren Goodhind.

2) Seek to send several of their other non-contract players out on loan. 3) Introduce a salary reduction, implemented throughout the playing and coaching staff, from November 1.

Full story in today's Daily Echo