Arsenal’s first-team players alongside their head coach Mikel Arteta have agreed to take a 12.5% pay cut to help with the financial impact of the coronavirus pandemic.

Led with their coach, Mikel Arteta, Arsenal has agreed on a “voluntary” pay cut amid the coronavirus pandemic. The agreement is geared to help with the financial impact caused.

The club’s core coaching staff are also among those taking cuts to their pay. If the Gunners hit certain targets on the pitch, the club says “agreed amounts” will be paid back.

These repayments are understood to include a full reimbursement if Arsenal qualifies for the Champions League when the 2019/20 seasons resume. Also, it includes a reduction to 7.5% cut if Europa League football is secured.

“We will be able to make those repayments as hitting these targets, which the players can directly influence, will mean out the financial position will be stronger.” Reported Arsenal.

“The agreement is based on the assumption we will finish the 2019/20 season and receive the full broadcasting revenues. 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 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.”

“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.”

Arsenal is the first Premier League squad to accept such a proposal although Chelsea’s players have indicated they would be willing to take a 10% cut.