Arsenal’s first-team players have reportedly rejected an opportunity to take a one-year pay-cut as the club looks to ease financial concerns amid the coronavirus crisis, with the proposal said to have left several of the squad unhappy.
The north London side’s hierarchy had proposed a pay-cut amongst first-team players in a bid to cover losses incurred amid the current global pandemic, with revenue streams having been heavily affected by the ongoing suspension of football.
According to the Telegraph, it was proposed that all players take a 12.5% pay cut until March 2021 to ease financial concerns, a figure which would save the club around £25 million, though a series of incentives were included in a bid to persuade players to agreeing to the deal.
One incentive meant that any player who signed a new deal after taking a cut would receive the balance back in addition to their new salary, whilst another was that any player later sold would receive their lost earnings back in full.
Despite the proposal, however, the report claims that the Arsenal squad voted on the matter on Monday and rejected the pay cuts.
The PFA have advised players to only agree to wage deferrals as opposed to cuts, and with transfer activity predicted to be restricted given the current financial squeeze, players are less willing to accept reduced wages.
Arsenal are facing the prospect of a fourth consecutive season without Champions League football following another disappointing season at the Emirates, with the club’s owners having spoken publicly of a desire to cut the club’s wage bill amid the financial implications of a continued absence from Europe’s elite.