Arsenal stars have rejected the idea of a 12.5% pay cut. Players were asked to consider reducing their wages over the next 12 months after football was suspended due to the coronavirus crisis.

Incentives on new contracts were offered as terms, with any deducted wages being added on top of a fresh salary agreement.

But the terms were unanimously rejected by players, with doubts over the summer transfer window and the long-term financial effects of the pandemic. Arsenal are now left footing an enormous wage bill that runs to £230 million each year.

Players agreeing to the 12.5 per cent cut would have saved Arsenal more than £25 million. Chiefs were willing to bring the figure down to 7.5 per cent if Arsenal qualified for the Europa League and there was a full rebate on the cards if the Gunners secured Champions League qualification.

Mikel Arteta's squad is currently five points and four places off Manchester United in fifth. That is set to be the final Champions League place with Manchester City facing a suspension from the competition.

But Arsenal players were not keen on giving up their money in such an uncertain time. Indeed, the PFA previous advised footballers not to accept any wage cuts at all.