Arsenal players to take pay cuts in response to COVID-19

Arsenal Football Club have on Monday reached a voluntary agreement with first-team players, head coach and core coaching staff to help support the club survive the COVID-19 crisis.

A statement in the official club’s website said the move follows “positive and constructive discussions” among the parties.

“In these conversations there has been a clear appreciation of the gravity of the current situation caused by the COVID-19 pandemic and a strong desire for players and staff to show their backing for the Arsenal family.

“Reductions of total annual earnings by 12.5 per cent will come into effect this month, with the contractual paperwork being completed in the coming days. If we meet specific targets in the seasons ahead, primarily linked to success on the pitch, the club will repay agreed amounts. We will be able to make those repayments as hitting these targets, which the players can directly influence, will mean our financial position will be stronger,” read part of the statement.

The agreement is based on the assumption the Arsenal will finish the season 2019/20 and receive the full broadcasting revenues.

“We are proud and grateful to our players and staff for pulling together to support our club, our people and our community in these unprecedented times which are some of the most challenging we have faced in our history,” the club further stated.

According to the club, resulting savings are set to help cover some of the financial risks the for this season in relation to matchday and commercial income.