Shahid Khan Issues Mea Culpa

EPL side Fulham Owner Shahid Khan apologized to supporters after the London club was relegated from the top flight at Watford on Tuesday. Khan said, "I'm sorry that we let you down. Last night's outcome made official what we didn't think would be possible in August and tried desperately to remedy and avoid as the season wore on." The club spent an estimated £100M on new players last summer after gaining promotion to the top flight (REUTERS, 4/3). Khan reaffirmed his commitment to Fulham and "promised an impending update" on improvements to the club's Craven Cottage ground (London TELEGRAPH, 4/3).

It is unlikely Fulham will be "weighed down by a hefty wage bill" in the League Championship given that all playing staff have, in their present deals, a trigger for a reduced salary in the event of relegation. In some cases, this reduction is as high as 50%. The player-wage bill should come down from $92M to $37M and the club will receive a parachute payment of $57M (LONDON TIMES, 4/3).