- The players have agreed to a 12.5% pay cut due to coronavirus
- Gunners become the FIRST premier league side to agree to a wage cut
Arsenal players are ready to take a 12.5 per cent pay cut due to the coronavirus pandemic. In return, the players are set to receive lucrative bonuses should they qualify for the Champions League.
The players are set to get their losses back should they qualify for next season’s Champions League plus a £100,000 bonus.
The North-London team is also offering each of the players £500,000 should they win the Champions League in 2021 or £100,000 each should they claim the Europa League trophy.
The 12.5 percent reduction will be for an entire year, from April 2020 to March 2021. If they qualify for the Europa League, the percentage will be reduced to 7.5 percent.
It was revealed on Wednesday that the club Manager Mikel Arteta had held talks with the squad over the ongoing pay issue.
The Spaniard is said to have stressed to the players the need and importance of them taking their part in helping the team survive the crunch financial hurdles caused by the coronavirus pandemic that has seen football suspended indefinitely.
Arteta, who recently recovered from the virus, is said to be ready to take a substantial cut on his personal wages, with his squad set to follow suit.