Layth Yousif
Following two weeks of intense talks between the players, their representatives and the club the reduction was agreed on Monday afternoon. The wages will be repaid in full or in part if the squad achieve certain targets such as qualifying for the Champions League or Europa League.
The agreement is based on the assumption Arsenal will finish the season 2019/20 and receive the full broadcasting revenues.
The club statement said: “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.
“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.
“The resulting savings will help cover some of the financial risks we have this season in relation to our matchday and commercial income.”
The move will be a relief to the club who are keen to show an appreciation of the seriousness that the deadly Covid-19 outbreak has caused - as well as a strong desire for players and staff to show empathy to non-playing staff and for Arsenal supporters suffering across the globe.
The statement ended by saying: “We are proud and grateful to our players and staff for pulling together to support our club, our people and our community in these unprecedented times which are some of the most challenging we have faced in our history.
“Victoria Concordia Crescit.”
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