Arsenal to receive cash injection from owner Stan Kroenke to help ease club’s financial burden during coronavirus crisis as they close in on pay cut agreement with boss Mikel Arteta
- Owner Stan Kroenke has guaranteed millions to Arsenal to help ease the crisis
- The major cash injection will help ease the club through the Covid-19 pandemic
- They are moving closer to negotiating a pay reduction with boss Mikel Arteta
- There is growing hope a wage deal can be struck with the playing squad as well
- Learn more about how to help people impacted by COVID
Stan Kroenke will provide Arsenal with a major cash injection to help ease the club through the coronavirus financial crisis.
And in another boost, the club are moving closer to negotiating a pay reduction with manager Mikel Arteta while there is growing hope a wage deal can be struck with the playing squad.
Owner Kroenke has often been criticised by Arsenal supporters for what some perceive as a lack of spending in the transfer market.
Arsenal owner Stan Kroenke will provide Arsenal with a major cash injection to help the club
Kroenke will pump millions into Arsenal to help the club through the coronavirus crisis
But Sportsmail understands the American businessman has guaranteed to pump a significant amount, which will run into millions, into Arsenal to soften the blow of the Covid-19 pandemic.
His financial support comes at a time when his NFL franchise the LA Rams are facing spiralling costs to complete their new stadium – which is a reported $2bn over budget.
Meanwhile, the club are in talks with Arteta over taking a pay cut on his £5million salary – but the main focus is on agreeing a wage reduction deal with the playing squad.
As revealed by Sportsmail, Arteta held talks with his squad on Wednesday night 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.
The club are also in talks with boss Mikel Arteta about a pay cut to his £5million salary
And Arteta, it is understood, is ready to lead by example by taking a substantial pay cut.
On Wednesday, the club confirmed their executive committee had agreed to take a minimum 33 percent wage cuts.
Arsenal players were split with regards to accepting the club’s original proposal of a 12.5 percent pay cut, rather than deferral.
The proposal was officially rejected at the start of this week, but it has emerged the offer was not unanimously rebuffed with some players willing to accept cuts. And there is now optimism an agreement has moved closer following further discussions.
There is also growing hope that a wage cut can also be agreed with the Arsenal playing staff
Some players, however, are steadfastly refusing to to accept cuts, which leaves the club facing the tricky prospect of negotiating individual pay deals.
The prospect of Arsenal players accepting cuts rather than deferrals would risk upsetting their Premier League rivals, who have made a collective decision to push for pay deferrals.
Even before the coronavirus pandemic, the Gunners were under significant pressure to reduce their inflated wage bill and there is a concern among the squad they are using the current climate to achieve their long-term pay plans.
Even before the pandemic, the Gunners were under pressure to reduce their inflated wage bill
