Reports have revealed that players of Arsenal FC are set to accept pay cut after they have been promised Champions League incentives. Arsenal players will be the first team in Premier League to accept a pay cut after talks to make players in the league accept payment reduction proved abortive earlier this month.
The new agreement between Arsenal players and their management will see players of the team take a 12.5% pay cut with a promise to reimburse if they qualify for the Champions League competition in 2020/21 season as the case may be. According to the report, the players will earn £100,000 for qualifying for the next Champions League. Also, each player of the team will earn £500,000 if they should win the Champions League.
Meanwhile, the last time Arsenal played at the Champions League was back in the 2016/2017 season and they crashed out in the round 16 stages. And for about two years now they have been a perpetual comer in the Europa League.
The Gunners are on the ninth position on the Premier League table before football activities were suspended due to the outbreak of the deadly coronavirus. With just 10 games remaining, it is not certain that the North London club will make it to the next Champions League campaign for 2020/21. However, if they should qualify for the competition, they will earn £100,000 as compensation for that.
This is coming after Premier League players rejected a pay cut proposal which was aimed at salary reduction to alleviate the financial problems of clubs and also donate immensely to NHS to strengthen the fight against the novel Covid-19.
Premier League had initially proposed about 30% pay cut for their players. It was rejected by the players through their regulatory body known as Professional Footballers’ Association PFA. According to PFA, a reduction of about 30% of wages will have a negative influence on the tax contributions to NHS.