Arsenal of England youngster, Bukayo Saka is among the lot of players at the London club who have accepted 12.5% cuts in their current salaries, as The Gunners seek to overcome prevailing financial hurdles caused by the ongoing lockdown over coronavirus, megasportsarena.com reports.
With matches of the English Premier League suspended since March, earnings from broadcast rights, gate takings, merchandise sales and other intake at the club have been non-existent, thereby causing a recourse to cutting costs across board.
That has now left Saka and his teammates succumbing to moves by the club’s top brass to cut their wages, following several days of considerations and discussions over the matter, which initially drew disagreement from the Nigerian-born youngster and his colleagues.
The latest news out of Emirates Stadium, though, is that Saka and the other players have finally agreed to reductions in their monthly take home, although Mesut Ozil and two other members of the team refused to follow suit.
Though Ozil and the other two did not join in the agreement for a 12.5% cut, it will remain on the table, so they could still do so in future, with emphasis on the fact that the arrangement is voluntary but the overwhelming majority of the Arsenal players have agreed to the pay cut.
However, it is not all gloom for Saka and his colleagues, as The Gunners’ top brass added that some of the money could be repaid if the players meet up with certain targets in the coming seasons, as they voluntarily agreed to help the club deal with the financial impact of the crisis.
A statement by the club read: “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.”
