Due to the coronavirus pandemic, several sporting competitions in the world have been either cancelled or suspended until further notice. And this has taken a huge hit in the revenues and several teams as their hierarchy look for a way to deal with the financial setback. On April 20, 2020 (Monday), Arsenal became the first club from the Premier League to announce wage cuts as players’ and coaching staff have agreed to a 12.5 per cent pay cut. Arsenal to Continue Paying Non-playing Staff Full Salaries Until May End, Not Use Government’s Furlough Scheme.

Arsenal in an official statement said ‘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.’ ‘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.’ The club added. Premier League ‘To Follow Belgium and Cancel Rest of EPL 2019–20 Season’, Says Udinese Sporting Director Pieraolo Marino.

Read Full Statement

The North-London club further said that they have discussed specific targets of the season with the players, and if the agreed success is achieved on the pitch, the club will repay the decided amount. ‘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 the statement.

The club also stated that the agreement is made based on that the 2019-20 season is concluded and they receive the full broadcasting revenues. Arsenal also thanked their players and staff for pulling together to support the team during these testing times.

Earlier, Southampton and West Ham had announced that their players and coaches have agreed to wage deferral to ensure that the non-playing staff gets the full amount of their salaries paid to them. Several teams from La Liga have also agreed to take a significant pay cut.

(The above story first appeared on LatestLY on Apr 21, 2020 09:07 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).