Celtic have confirmed that players and staff will take a "significant" pay cut in order to protect the club amid the uncertainty caused by the current coronavirus pandemic.
In a statement on the club website on Friday, the Scottish champions announced the first-team squad and backroom staff including manager Neil Lennon will "take a significant reduction in salaries and make deferrals of a significant proportion of their earnings" between April and June.
Club chief executive Peter Lawwell will also take a pay cut, as will other directors of the club and those involved in senior management roles at Celtic Park.
Celtic say the measures are to ensure financial stability during the enforced break in Scottish football - and the sport around Europe - caused by coronavirus.
The club were on the verge of a ninth consecutive Scottish Premiership title when the season was postponed last month, and it was yesterday announced by the Scottish FA that the 2019/20 campaign will not resume until June 10 at the earliest.
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Lennon said: "This club is all about teamwork and solidarity, on and off the park. We are well aware of the economic realities and are very willing to play our part in recognising them. We will come through this in unity and then look forward to the challenges ahead.
"We also know that many within society, including our own support, are facing distress and, in some cases, tragedy. Everyone at Celtic Football Club, including the players and my own backroom team, expresses our appreciation of the work being done by NHS staff, carers and all who are providing vital public services at this time."
The club said the salary measures would be reassessed in June, depending on the situation.
Lawwell said: “I would like to pay tribute to Neil and the players for their desire to play their part and the outcomes achieved. I am also grateful to my own executive team for the commitment they have devoted to this outcome in very difficult working circumstances and also their own willingness to play a part in the measures adopted.
"I am extremely appreciative of the willingness of everyone concerned, to recognise the practical difficulties which this awful crisis has created. Celtic are in a strong financial position but we are not immune to this unique set of circumstances.
"Our club is built on a great collective spirit and we are acutely aware of our responsibilities to colleagues, supporters and society as a whole. The fact that we can announce this package of measures in a spirit of harmony is testimony to the unity which exists within the club and will carry us into the future.
“We will negotiate and overcome these unprecedented times of challenge with continued teamwork and support for each other and I would like to thank our fans for the continued support which they give to the club. Our togetherness is our strength.
“I also want to take this opportunity to thank all those people, across so many areas of life, who are so bravely doing all they can to keep us safe and well. Everyone at Celtic applauds this monumental effort.”
