Arsenal executives take pay cut as player talks continue

The corner flag of Arsenal inside the Emirates Stadium during the Premier League match between Arsenal and Manchester United in London, UK, January 1, 2020. /VCG

Arsenal's executive team have agreed to cut more than a third of their salary as the club warned it is facing "one of the most challenging periods" in its history, said the London-based Gunners via a statement on Wednesday.

In terms of players, Arsenal said they have been in "productive and ongoing conversations around how players might support their club in an appropriate way."

"We have not and will not make any comment on this matter until these private discussions have concluded."

According to reports, the Arsenal squad rejected a proposal for a 12.5 percent pay cut on their annual salary, preferring instead to defer a larger proportion of their income until the shutdown is over.

Different from players, Arsenal said they have made it clear that "all our employees are receiving their full salaries and we plan to continue this. We are not currently intending to use the Government's furlough scheme."

"In addition to our employees, we are extending our commitment to pay casual workers on our payroll from the end of April to the end of May. For our match-day casual workers this means they will be paid for all four Premier League games that have been postponed and will be paid again should they work at these games once re-arranged," the club added.

An outside view of Arsenal's home court Emirates Stadium in London before the Premier League match between Arsenal and West Ham, March 7, 2020. /VCG

Arsenal posted a 27 million British pounds (34 million U.S. dollars) loss for the 2018/19 season and the club are on course to lose far more this year due to the shutdown.

"The potential financial impact is significant so we must be responsible and act now to best protect Arsenal from what might happen in the months ahead. What is clear is that this is one of the most challenging periods in our near 134-year history," Arsenal said in a statement.

"Our executive team volunteered to waive more than a third of their earnings over the next 12 months."

The Premier League has been suspended indefinitely due to strict government guidelines to control the spread of coronavirus.

An inability to complete the season could cost Premier League clubs an estimated one billion British pounds (1.25 billion U.S. dollars).

(With input from AFP)