Players at football clubs Arsenal and Valencia have agreed to take pay cuts to help their teams ride the financial turmoil resulting from coronavirus pandemic. Also Read - Delhi Unlock: From Restaurant Timings to New Rules For Bars, All Your FAQs Answered

The salaries have been slashed by 12.5 per cent. Also Read - International Yoga Day 2021 LIVE Updates: India Celebrates Yoga Day; President, Union Ministers Participate

Arsenal are the first English Premier League club to announce reduction after Southampton and West Ham confirmed wage deferrals to their players. Also Read - Major Milestone: Andhra Pradesh Sets New Record by Vaccinating 13.45 Lakh People in a Day

That includes manager Mikel Arteta who reportedly spoke with the players via video conferencing to bring them on board with the decision. “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,” Arsenal said in a statement.

“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,” it added.

However, as per reports, Arsenal will hand back the players the difference should they manage to achieve specific target once the season resumes that includes qualifying for the champions league.

Meanwhile, in Spain, Valencia have become the latest club to announce wage reduction as part of measures to limit the financial impact of the coronavirus pandemic. They will also apply for furlough scheme which allows them to reduce working hours of staff and pay in exceptional circumstances.

“The club is particularly grateful for the solidarity of the first team who, by reducing their wages, will help the club protect all its workers and their families in such difficult circumstances,” the club said in a statement.

Valencia haven’t announced the amount by which the salaries will be cut.

Barcelona, Atletico Madrid and Sevilla have already said they are reducing the wage of their footballers by 70 per cent.