Arsenal executives have agreed to take a pay cut of at least one-third of their salaries for the next 12 months the club has confirmed.
The Gunners just like most football clubs around Europe have been hit hard by the coronavirus outbreak and they are looking for measures to cut costs.
They recently proposed a 12.5 per cent pay cut to their players but it was rejected. The club is still negotiating with the mercenaries to reach a compromise and save the club from trouble.
The club made a statement informing their fans of the decision taken by the executives to accept pay cuts. A part of the statement reads.
“Earlier this month, our executive team volunteered to waive more than a third of their earnings over the next 12 months.”
They also revealed that all their casual staff who work on matchdays would be paid in full for the matchdays that they should have worked this month and they would also be paid when the postponed games are finally played.
“We are extending our commitment to pay casual workers on our payroll from the end of April to the end of May.
“For our matchday 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.”
Finally, the statement reveals that the club is still negotiating with the players on potential wage cuts and claimed that talks have been “productive”.
“Our players have been keeping very busy during this difficult period, working hard at home on both their fitness and tactical work while training is suspended.
“Over the past 10 days we have been in discussions with them around the potential financial challenges ahead, and how we are planning for those now.
“These are productive and ongoing conversations around how our 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.”
Tick tock the clock is ticking and every single second of every single day the club is losing money left right and centre, people in the community are dying and jobs and livelihoods are going down the drain but no problem, the players need time to discuss how much of their salary should be used while they sit at home playing games.
At least we know 12.5% is far too much of a cut for the multi-millionaires to accept and so at least there is a starting point for the club to base negotiations on, maybe 3-4% of the tens of millions they take out of the club yearly can be agreed, who knows, their generosity at this time of crisis could be overwhelming.