Arsenal have announced that first-team players, manager Mikel Arteta and core coaching staff will take a 12.5 per cent pay cut to help the club during the coronavirus pandemic.

Arsenal’s French-born Ivorian midfielder Nicolas Pepe (C) celebrates with teammates after scoring their second goal during the English Premier League football match between Arsenal and Newcastle United at the Emirates Stadium/Image credit: Getty Images

The Gunners are the first Premier League team to confirm a pay reduction for players.

Southampton and West Ham have both agreed deals for players to defer wages while it has been reported that Chelsea players will take a 10 per cent pay cut.

A statement from Arsenal read: “We are pleased to announce that we have reached a voluntary agreement with our first-team players, head coach and core coaching staff to help support the club at this critical time.

“The move follows positive and constructive discussions. 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.

“The agreement is based on the assumption we will finish the season 2019/20 and receive the full broadcasting revenues. The resulting savings will help cover some of the financial risks we have this season in relation to our matchday and commercial income.

“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.”

Source – Eurosport.com