Home Sports Mesut Ozil one of three Arsenal players yet to accept coronavirus pay...

Mesut Ozil one of three Arsenal players yet to accept coronavirus pay cut

Mesut Ozil one of three Arsenal players yet to accept coronavirus pay cut 1

The Gunners are the first top-flight club to agree pay cuts with their players after accepting a 12.5 per cent drop until March.

They could get their money back in full if they qualify for the Champions League either this season or in 2021.

They will recoup 7.5 per cent if they qualify for the Europa League but will miss out if they do not make it into Europe.

Arteta and his core coaching staff have accepted pay cuts while the club’s executives have agreed to a 30 per cent reduction.

The Arsenal boss helped convince his players that the club needed financial help during a video conference call last week.

Arsenal outlined the agreement by issuing a statement which said: “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.

“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.

“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.

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“The agreement is based on the assumption we will finish the season 2019/20 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 match day and commercial income.

“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.”

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