Arsenal have confirmed an agreement with the first-team squad and coaching staffs over a pay cut, MySportDab reports.
A 12.5% wage reduction for the next one year will come into effect this month once all paperwork has been completed.
It ends weeks of endless talks between the club and players over the financial difficulties due to the coronavirus crisis.
Arsenal will reduce their players’ wages by 12.5 per cent for the next one year although the first-team squad can get the cash back due to a different bonuses included.
MySportDab understands that if Arsenal qualify for next season’s Champions League, the players will earn get a £100,000 bonus.
Also, the Emirates club have offered players a shocking £500,000 bonus each if they win the Champions League in 2021.
Arsenal issued a statement on Monday which explains that a Paycut has finally been agreed after talking with the players.
The statement read: “We are delighted to announce that we have reached an agreement with the first-team players, coach and other staffs to assist the club during this difficult time.
“In the talks there was a clear understanding of the gravity of the current situation caused by the Covid-19 crisis and a strong desire from players and staffs to help the club. ”
Arsenal also recently announced that their executives agreed to slash their salaries by a third for a year to help the club’s financial situation.
However, Mesut Ozil and two others have refused for the Paycut.
Individual talks will continue with Ozil, who is Arsenal’s club’s highest earner on £350,000-per-week and he’s made it clear he is ready to take a pay-cut in the future.