As New Zealand Rugby prepares to take a Coronavirus financial hit that will eat a big chunk out of their near $100 million in reserves, the All Blacks have taken the lead with significant pay-cuts already agreed to and more in the works.
New head coach Ian Foster confirmed in an interview on Newstalk ZB and Radio Sport on Saturday that he and his All Blacks staff had already agreed to salary cutbacks in the face of the looming financial crisis.
He said the players would be the next to tighten their belts with discussions already underway on how their reductions would be managed.
Rugby globally faces a major crisis in the face of the sporting shutdown enforced by the COVID-19 pandemic. With so many countries in lockdown and borders closed all over the world, it could be months before the sport starts back up again and even longer for international competition to be cleared for takeoff.
Foster says it is now inevitable that high-salaried professional athletes and coaches will have to endure some pain.
He adds Super Rugby looks a long shot to resume in anything but a localised format and the July tests must also be in serious doubt.
Revenue is drying to a trickle as payments from broadcasters are set to be slashed in accordance with the lack of product.
[Source:Stuff.co]
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