Lincoln have to slash their wage bill in half by the end of the season, their Chief Executive has warned.
The day after the Imps signed three new players, Steve Prescott told the Lincolnshire Echo the total wage bill at Sincil Bank must be cut in half. They are now in consultation with staff over proposed reductions after previously offering voluntary redundancy to their 20 full time off-field staff two weeks ago.
One of the cost cutting measures already imposed is that players must now pay for their pre-match meal on away trips. The Imps recorded a £200,000 loss in their last accounts but that figure is believed to be substantially higher for last season, and the losses have not been stemmed since relegation despite releasing the vast majority of their relegated squad.