Arsenal players and staff have agreed a 12.5 per cent pay cut to “help cover some of the financial risks” posed by the coronavirus pandemic.
The agreement was struck after a fortnight of protracted negotiations between the first-team squad and the club’s hierarchy, with staff told on a call on Monday before the official announcement.
The Gunners confirmed last week that they are not planning to utilise the government’s furlough scheme and outlined their intention to pay staff in full during this uncertain period, while extending casual employees’ wages until the end of May.
The club’s executive team have voluntarily waived more than a third of their earnings over the next year to cope with what they called “one of the most challenging periods in our near 134-year history.”
Owners Kroenke Sports & Entertainment have already indicated they “are fully committed to supporting Arsenal through”.
Arsenal’s annual wage bill is in the region of £230m, which will now be significantly reduced.
How the move will impact contract negotiations with the likes of first-team stars Pierre-Emerick Aubameyang remains unclear.