Arsenal players and the coaching staff have agreed wage cuts to ease the financial situation in the club.
The coronavirus pandemic have caused serious financial problems for the football clubs, as all leagues are suspended and it is still unknown when the season will resume.
Arsenal players and the coaching staff are among the first english clubs to agree a wage cuts. It was reported that the Gunners first-team, Mikel Arteta and the other core coaching staff have agreed to reduce their salaries by 12.5 per cent to help the club cope with the financial impact of the coronavirus pandemic.
The north London team said that some of the money could be repaid if the club meets certain targets in the coming campaign.
However, the decision of a wage cuts have been voluntary and the overwhelming majority of the Arsenal players have agreed to reduce their wages.
Although, Mesut Ozil is reported to be one of just three players who have not agreed to wage cuts, which will see annual salaries slashed by 12.5 per cent.
Ozil is the highest earner in the Gunners team, as his salary is £350,000 per week and now it is understood that he want to see the ‘full financial impact’ of the coronavirus outbreak before making any decision.
“Deferral is an option but not to agree a cut today when the clubs may still make the same profit as last year," said Ozil's agent Dr Erkut Sogut earlier this month.
“What the exact financial impact is on the clubs, we can see three to six months later – but we can’t see it today.”
Arsenal are one of the first Premier League clubs to agree on salary reductions, along with Southampton and West Ham as the players have agreed wage deferrals with.
Earlier this month the Gunners first-team have rejected the proposal of a wage cuts, but following the intervention of manager Arteta they've changed their stance.
The club made a statement saying: “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.
“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.”