Arsenal's first-team squad are set to agree to a 12.5% pay cut after crucial talks involving Mikel Arteta and Hector Bellerin brought the squad together.
The proposal was initially rejected by the squad last week with many in the first team insisting they would only accept a deferral of their salary and not Arsenal's request, which could see players sacrificing as much as 12.5% of their pay packet between now and March 2021.
However the intervention of Mikel Arteta, as first reported by The Athletic, brought more of a divided squad round to Arsenal's point of view and the players are now on the brink of finalising a deal.
Though they could stand to lose up to 12.5% of their pay packet the Gunners squad will be incentivised over the final weeks of the season.
If they qualify for the Europa League only 7.5% of their salaries will be reclaimed. Qualify for the Champions League and they will earn back every penny they lost.
On Wednesday Arsenal announced that their 12 man executive team had agreed to slash their salary by over a third whilst football.london also understands that the club owners, Kroenke Sports and Entertainment, are covering financial commitments as well.
The players were led by Arsenal's vice-captain and PFA representative Bellerin, who impressed both the club hierarchy and his team-mates with his approach.
Though there had been some questions over why players should bear the financial brunt as opposed to billionaire owner Stan Kroenke those appear to have assuaged, potentially in light of the revelation from football.london yesterday that KSE would be offering some financial support.
Confirmation of the pay cut will allow Arsenal greater clarity to plan across numerous departments over the coming months though until they know when and in what form football will take place there will inevitably be some degree of doubt. Still trimming back their largest form of expense eases any fears the club hierarchy might have.
Arsenal have also cancelled all capital expenditure projects and have placed greater checks on discretionary spending in areas such as marketing. They confirmed yesterday that they do not intend to make any staff redundant nor to make use of the government's furlough scheme.
If the deal is agreed Arsenal would become the first Premier League club to reach an agreement with their squad over pay cuts. Southampton and West Ham players agreed to defer their salaries.
