BRISTOL have asked their players to take staggering 50 per cent pay-cuts – or seek new employment – as they count the cost of missing out on promotion.

The club's players were told yesterday of the shock proposals, designed to safeguard Bristol's financial future following their failure to return to the Guinness Premiership.

Those with one year to run on two-year contracts signed 12 months ago will be expected to agree to their salaries being halved. If not, they will be expected to find new clubs by the start of next season.

The announcement has, understandably, angered the players, many of whom committed to Bristol for next season in favour of moving elsewhere.

The move will force the majority of Bristol players to seriously consider their futures, with players such as Lee Robinson (Leicester), Luke Arscott (Sale), Junior Fatialofa and James Phillips (both Exeter) all thought to be attracting genuine interest from elsewhere.

Centre Luke Eves has already moved to Newcastle, while the departure of assistant coach John Brain – the man responsible for Bristol's forward and defensive strategies – was confirmed yesterday.

Players such as Alex Crockett, who are out of contract, are now almost certain to move on, while senior players are weighing up the prospect of such a significant pay-cut.

As one first-team regular said last night: "What do I do now? What am I supposed to do? This is a hammer blow.

"It's a bit of a surprise, to say the least, that the club didn't have a contingency plan for what happened if we didn't go up."

Agent Mike Buxton, who represents at least four Bristol players, said: "I am extremely concerned about the reports I have received from the players.

"They have been informed verbally that their contracts will be halved in value from next season – or they have the option to go elsewhere.

"This is an extraordinary state of affairs. All of my clients are on fixed-term contracts – and I expect those contracts to be honoured."

The news of the pay-cut ultimatum broke from the Bristol camp after chief executive Steve Gorvett informed head coach Paul Hull and his players of the club's plans for next season.

It is understood Bristol will operate next term with a playing budget of around £700,000 – although it is unclear whether that figure includes coaches' salaries.

But for the average Bristol player, a 50 per cent pay-cut is likely to equate roughly to a drop in annual salary from £50,000-60,000 to £25,000-30,000.

Bristol yesterday made their first public statement since last Wednesday's 29-10 home defeat to Exeter in the second leg of the Championship play-off final.

Chairman Chris Booy, writing on the club's official website, set out to clarify some of the key issues surrounding Bristol's immediate and mid-term future.

"The board had made available every resource we could to secure promotion – and realistically this season was our best chance to get back into the Premiership," he wrote.

"Next season, we will lose the parachute payment we had this year, and missing out on promotion has punched a £2-£2.5 million hole in our finances.

"I have always made it clear that we will not jeopardise our future by making commitments we cannot meet, and the board (have) approved a new budget for the forthcoming season, a budget that has been reduced significantly to reflect where we are now.

"We will need to make dramatic savings if we are to survive, but with the support of everyone involved, we will achieve this. The biggest overhead we have is staff, and over this last year we have cut back to the bone all other areas to maximise the playing budget.

"We will have to cut this budget now to reflect the income we are forecasting. Players will be leaving the club.

"I know the message boards and the pub talk will speculate as to who is going and who is staying, but we have not agreed next season's squad and all the playing staff are being spoken to over the next week or so.

"John Brain, whose contract expires in June, will leave the club and I want to thank him for his efforts and wish him well."

Booy, meanwhile, has predicted tough times ahead for Bristol – but still expects them to be competitive in next season's Championship.

"We will ensure a squad of players who are committed and will represent the club with passion and commitment, and we will continue to spend all we can on the playing budget," he wrote.

"Now is the time for us to take stock and really plan for our future – the stadium and the funding we need must be addressed before we can attract the serious investment required to re-establish ourselves in the top flight.

"For now, we are making the tough decisions that need to be made and I want to thank everyone for the loyalty and passion they have shown across the season."