Crawley Town are in financial crisis. The entire squad is up for sale and chairman Chas Majeed has told the club's employees, including office staff, that they will have to take a 50 per cent wage cut.

The players are still owed their February salaries and boss John Hollins admitted he does not know which of them will turn up for tomorrow's home game against Conference leaders Accrington Stanley.

There is likely to be a mass exodus of players, some of whom are under contract until the end of next season.

The decision puts the club in breach of contract and they could face action from the PFA who are monitoring developments.

The players were handed a letter detailing the wage cuts before Tuesday's 1-1 draw at Gravesend and they had face-to-face talks with Majeed at Broadfield Stadium yesterday.

Majeed says that the club will carry on and insisted:

The club will stay fulltime and will not go into administration
He does not intend to sell up
The club has a long term future.

Majeed says his company, The SA Group, has invested £800,000 since buying Crawley last summer.

He said: "It is a mess and I have to clear it up. It would be fine if we were just paying 20 per cent of the wages but at the moment 90 per cent of the bills go on wages.

"There are a lot of players who are just here for the cash.

They don't care about the football or their careers. They are here because we pay good wages for 52 weeks of the year.

"I am disappointed with what has happened but I have to get this club right and I will do the best I can."

Majeed claimed that there were financial problems before he arrived but also admits making mistakes.

He added: "Some of the problems were already here and some started when we took on the club and we were wrongly advised. We signed some of the players on big contracts which has resulted in this happening.

"Running a football club is a different business altogether. Some of it is my own fault but I've learnt the lessons the hard way."

One senior player, who didn't wish to be identified, said some of his team-mates were in tears at yesterday's meeting.

He said: "It was horrible because you're talking about players losing their living.

"A couple of the lads were in tears and were wondering how they could go home and face their wives because they won't be able to pay the mortgage this month.

"One of the others has had to raid his child's savings to pay the bills.

"People have been critical of the side this season which is fair enough because the performances haven't been good enough but this is the other side of football."