Several sporting competitions around the world have been either cancelled or suspended indefinitely due to the coronavirus pandemic. With no football action on the cards for foreseeable future, several clubs have taken a huge financial hit as very little revenue is being generated. Due to this, Premier League side Arsenal have told their stars that financial situation will worsen if the season is declared void or played behind closed doors. But the players have reportedly rejected a proposal aimed at reducing the club’s wage bill. Southampton FC Becomes First Premier League Club to Announce Players Salary Deferral Amid Coronavirus Pandemic.

Players and executives at Arsenal are trying to come up with some sort of arrangement but so far none of the options have been agreed. The idea was to reduce the wages by 12.5 per cent which will last for a year, with the added incentive of player’s receiving their full salary of Champions League place is secured for next season. But the players have rejected the offer as reported by The Telegraph and later confirmed by Goal. Celtic FC Players and Manager Neil Lennon Reach Agreement Over Salary Reductions.

If the offer would have been accepted, Arsenal would have managed to cut around £25 million from their annual £230m wage bill. The decision was taken after PFA advised all the player’s to reject all of the offers regarding wage cut during coronavirus crisis, stating that only offers of deferral should be accepted.

It is reported that there is an understanding between the Arsenal players to defer part of their wages to help the club, especially if it helps the entire non-playing staff to keep their job throughout the pandemic.

Southampton became the first club from the Premier League to announce an agreement with the players to defer some part of their salaries to help the non-playing members. Scottish champions soon followed the same part and agreed to postpone a part of their wages.

(The above story first appeared on LatestLY on Apr 15, 2020 03:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).