Arsenal players, manager Mikel Arteta and his coaching staff have agreed on wage cuts to help the club cope with the financial impact of the coronavirus pandemic.
Mesut Ozil is understood to be one of just three players who have not agreed to the proposal, which will see annual salaries slashed by 12.5 percent.
Ozil, who is the club’s highest earner on £350,000-a-week, is understood to want to see the ‘full financial impact’ of the coronavirus outbreak before making a decision.
Earlier this month, the World Cup winner’s agent, Dr. Erkut Sogut, said: “Deferral is an option but not to agree on a cut today when the clubs may still make the same profit as last year.
“What the exact financial impact is on the clubs, we can see three to six months later – but we can’t see it today.”
Arsenal are the first Premier League club to agree on salary reductions, with Southampton and West Ham stars having agreed on wage deferrals with their squads.
Gunners first-team players initially rejected the proposed pay cuts earlier this month but changed their stance following the intervention of manager Arteta.
A club statement 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 percent 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.”