Coronavirus Outbreak: Arsenal players, coaches agree to 12.5 percent pay cuts for year to deal with financial impact

Arsenal have 10 games remaining and are eight points from fourth place with a game in hand on Chelsea as they chase a first Champions League qualification in four years.

The Associated Press April 20, 2020 23:05:05 IST
Coronavirus Outbreak: Arsenal players, coaches agree to 12.5 percent pay cuts for year to deal with financial impact

Arsenal manager Mikel Arteta and his players agreed to reduce pay by 12.5% on Monday for the next year to help their club deal with the financial impact of the coronavirus.

Coronavirus Outbreak Arsenal players coaches agree to 125 percent pay cuts for year to deal with financial impact

Emirates Stadium, the home of Arsenal. Reuters

No games have been played in the English Premier League for six weeks and the competition is not likely to resume until at least June due to the national lockdown and social distancing.

"There has been a clear appreciation of the gravity of the current situation," Arsenal said, "and a strong desire for players and staff to show their backing for the Arsenal family."

The voluntary reduction in annual earnings by the players and coaches will come into effect next month once the paperwork is completed this week.

"If we meet specific targets in the seasons ahead, primarily linked to success on the pitch, the club will repay agreed amounts," Arsenal club said. "We will be able to make those repayments as hitting these targets, which the players can directly influence, and will mean our financial position will be stronger."

The north London club has 10 games remaining and is eight points from fourth place with a game in hand on Chelsea as it chases a first Champions League qualification in four years.

Arsenal did reach the Europa League final last season, losing to Chelsea, helping the club generate an annual income of almost 400 million pounds ($500 million). But the the business did lose 32.2 million pounds.

When the Premier League eventually resumes, games are likely to be held without fans — denying clubs millions of pounds in revenue.

The league remains in talks with the government about when player training and games can restart, with the national lockdown in place until at least 7 May.

"We have been clear throughout all of it that the government will not consent to events taking place unless we can be sure it is safe to do so," said Culture Secretary Oliver Dowden, whose cabinet brief covers sport.

Click here to follow LIVE updates on coronavirus outbreak

Updated Date:

also read

Beijing goes into semi-lockdown as COVID-19 cases start rising in China
World

Beijing goes into semi-lockdown as COVID-19 cases start rising in China

COVID-19 cases in China on Friday rose to over 25,000, including more than 500 in Beijing, prompting city officials to advise millions of residents to stay home and undergo daily testing

Cannot be liable to compensate for deaths due to Covid-19 vaccines: Centre tells SC
India

Cannot be liable to compensate for deaths due to Covid-19 vaccines: Centre tells SC

The affidavit was filed in response to a plea by the parents of two girls who died due to adverse effects following Covid-19 vaccination. It said vaccines made by third parties had undergone regulatory review, and holding the state liable to provide compensation may not be legally sustainable

COVID-19 infection may reactivate several latent viruses in body: Study
Health

COVID-19 infection may reactivate several latent viruses in body: Study

Severe, long-term fatigue, post-exertional malaise, pain and sleep problems are characteristic signs of the disease