Premier League: a 12.5% cut in annual salaries for Arsenal FC players, head coach and coaching staff

"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% will come into effect this month, with the contractual paperwork being completed in the coming days," announced Arsenal FC (Premier League) on 20/04/2020.

"The move follows positive and constructive discussions. In these conversations there has been a clear appreciation of the gravity of the current situation caused by the Covid-19 pandemic and a strong desire for players and staff to show their backing for the Arsenal family," explained the London (ENG) club, while the Premier League has been suspended since 19/03/2020.

"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," said Arsenal FC, whose wage bill reached £231.7m…