Arsenal Player set to agree 12.5% PAY CUT after being offered lucrative UCL bonus'

Arsenal players are ready to agree a 12.5 per cent pay cut after being offered a lucrative Champions League bonus plan.

Players will get their losses back if they qualify for next season’s Champions League - plus a £100,000 bonus.

The club are also offering players £500,000 each if they win the Champions League in 2021 or £100,000 each if they lift the Europa League.

The newly drawn up agreement also means if they qualify for the Champions League in the next two seasons they will get their money back.

It means Arsenal are set to become the first Premier League club to agree to a pay cuts, rather than deferrals.

The 12.5 percent reduction will be for an entire year, from April 2020 to March 2021. If they qualify for the Europa League, the percentage will be reduced to 7.5 percent.

As revealed by Sportsmail on Wednesday, manager Mikel Arteta held talks with his squad over the ongoing pay issue during which the Gunners boss is said to have stressed to players the importance of doing their part to help Arsenal survive the financial storm.

And Arteta, it is understood, is ready to lead by example by taking a substantial pay cut with his players no poised to follow suit.