Arsenal fear financial meltdown with players facing £25m pay cut amid coronavirus crisis

The pay proposal was sent to Arsenal's representative on the Professional Footballers' Association, Hector Bellerin.

Posted Monday, April 13, 2020 by Express.co.uk

Arsenal players have reportedly been warned that the financial implications the coronavirus pandemic is having on the club will lead to their wages being cut, as opposed to a deferral. The current suspension of the Premier League has caused hysteria among the top clubs with potentially huge financial ramifications.

As a result, clubs have been asking players to take deferrals to ensure they're able to pay the non-playing staff a full wage.

Both Southampton and West Ham became the first two clubs to announce the players will defer part of their wages to help their respective clubs.

But there are concerns among other teams on how their current financial situation will look a few months from now with so many questions still unanswered on the immediate future of English football.

The Premier League could face a penalty of more than £750million from broadcasters Sky and BT if the season is not resumed.

Arsenal have asked their players to take a pay cut

And it seems Arsenal are preparing for the worst with the Mirror stating a pay proposal has been sent to players at the Emirates requesting they give up as much as £25m in pay cuts.

The Gunners have one of the largest wage bills in England at £230m and it is feared deferrals alone wouldn't help their cause further down the line.

Part of the problem for Arsenal has been their failure to qualify for the Champions League over the past few years.

A guaranteed £13.5m was paid to clubs who qualified for the Champions League last year while Arsenal received just £2.5m for reaching the Europa League group stages.

Then comes the TV revenue as well as the rewards for winning a single game in Europe's elite competition.

Arsenal gambled big last summer as they paid out a club-record £72m fee to sign Nicolas Pepe with payments spread out over the length of his contract.

They still have one of the Premier League's highest earners in Mesut Ozil who remains on a £350,000-a-week contract while it is expected they will open negotiations with Pierre-Emerick Aubameyang to sign an extension with just one year left on his current deal.

All that has left Arsenal in a precarious position with football currently suspended, meaning they have missed out on gate receipts in excess of £2m-a-game.

There is still some hope the season will resume in the summer, but games will almost certainly be played behind closed doors.

Champions League qualification this year looks out of their reach, unless they're able to go on an incredible run in the final games of the season.

They're currently ninth in the table, although they do have a game in hand on the likes of Tottenham, Chelsea and Manchester United.

There is also the small matter of Manchester City facing a two-year ban from the European competition, meaning fifth may be good enough to qualify.

For now though, it seems the players are being asked to help keep the club afloat while also being expected to be ready to fight on the pitch to return to Champions League football.