Portsmouth rivals Wycombe forced to cancel Millwall loanee's deal amid estimated £2.5m losses

Wycombe have sent loanee Jason McCarthy back to Millwall after revealing they can no longer afford him.
Gareth Ainsworth will be without loanee Jason McCarthy should League One resume - after Wycombe revealed they could no longer afford his wages. Picture: Graham Hunt/ProSportsImages/PinPGareth Ainsworth will be without loanee Jason McCarthy should League One resume - after Wycombe revealed they could no longer afford his wages. Picture: Graham Hunt/ProSportsImages/PinP
Gareth Ainsworth will be without loanee Jason McCarthy should League One resume - after Wycombe revealed they could no longer afford his wages. Picture: Graham Hunt/ProSportsImages/PinP

And chairman Rob Couhig has implemented other crucial cost-cutting measures to cope with an estimated £2.5m shortfall brought on by the coronavirus crisis.

The Chairboys will join Pompey in the League One’s four play-off spots should the season be scrapped and unweighted points per game adopted to settle placing.

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However, they will do so without right-back McCarthy, who had been a regular in Gareth Ainsworth’s team following his loan arrival from Millwall in January.

McCarthy made nine starts, scoring once, but has now returned to his parent club, with Couhig insisting Wycombe ‘simply cannot afford him’.

Other measures last night announced include no longer supplying the additional 20 per cent on wages for furloughed non-football staff, which previously ensured they remained on full pay.

Those staff have also been advised to look for ‘alternative employment’ once furlough has ended.

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In a club statement, Couhig said: ‘The club has essentially been without revenue since the beginning of March. Our loss of revenue even with the utilisation of the furlough plan has exceeded £1,000,000 through the end of May.

‘On a going forward basis, we anticipate our loss of revenue will continue at the rate of £350,000 a month.

‘While no-one really knows for sure when we will be able to return to playing in front of crowds, it seems reasonably certain that it will not happen until at least September and many speculate not until at least December.

‘It is apparent that the Club’s losses as a result of the Covid-19 outbreak may exceed £2,500,000. If we are required to play games behind closed doors, whether to try to complete the season or in playoffs, these costs will go up.

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‘When the suspension of the season took place, we were fortunate that the Club was in good financial shape. There was little debt, improved relationships with our vendors, a responsible player budget, and the team was doing great on the pitch.

‘Today, we have informed all our non-football staff presently on furlough that their pay will be limited to that which we receive from the furlough plan.

‘Through May 31, everyone has received 100% of their pay. The Club has made up the difference. Going forward, these furloughed employees will receive 80% of their salary with a maximum payment of £2,500 per month. We are also recommending that they begin the search for alternative employment once furlough ends.

‘I have also informed our manager that the Club will be without the services of Jason McCarthy. Jason is a wonderful player and a terrific guy. He was on loan to us from Millwall.

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‘While they and he were willing to extend the agreement through the remainder of this season, and he would unquestionably be helpful if play resumes in any circumstances, we simply can’t afford him.

‘I am confident that the remainder of the team can achieve success when we are allowed to return.

‘The Club will survive this crisis as it has in the past. However, it will only do so by taking hard necessary steps to deal with the reality of our economic situation.’

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