Arsenal players and staff will take pay cuts for next 12 months in extraordinary act
This is the kind of story you see that makes you remember just how classy of a club Arsenal is. On top of that, its players have shown tremendous generosity with the latest decision to come out of London.
On Monday, it was announced both players and Arsenal staff members have agreed to take pay cuts. It's not just during the pandemic, though. Instead, the Gunners have decided this will take place for the next 12 months.
Simply unreal. In total, the players and coaches gave the green light for a 12.5 percent pay cut for the next year. As you might imagine, this wasn't an easy decision to be made, but one that's been well respected across England.
Below you can find the full statement from Arsenal following the big news:
“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.
“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 matchday 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.”
Obviously, these are trying times the Gunners and everyone else is facing right now. Kudos to the players and staff members for stepping up and doing their part to help the club. It's a gesture that surely won't be forgotten.