Ozil refuses Arsenal’s 12.5% pay cut alongside two other players

Mesut Ozil has refused to join his Arsenal teammates to accept the 12.5% pay cut. The midfielder who is the club’s highest earner with £350,000-a-week has stated that he may be willing to accept it in the future, although he wanted to see the full financial impact of the coronavirus pandemic before rushing into any decision.

The German is one of three players in the first team to refuse the pay cut. He added that he respects the decision of his other teammates and urged them to respect his. His agent, Dr. Erkut Sogut declined to comment on the issue but recently said that players should not accept pay cuts.

“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 is the first club to agree on cuts with players after 10 days of intensive meetings which saw the players initially refuse to accept pay cuts.

However, they’ll now take the 12.5% reduction until March 2021. The club will repay the money in full if they make it to next season’s UEFA Champions League this season or next and will also pay the players a bonus of £100,000.

Meanwhile, any player that is sold for profit will have their money refunded. They’ll receive 7.5% in return if they qualify for the Europa League. However, failure to make it to Europe will see them get nothing.

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Arsenal boss Mikel Arteta played a key role in the negotiations with the players via a video conference call last Wednesday where he convinced the players that the club needed financial support. The Spaniard also agreed to a cut while the club’s 14 strong executive committee have agreed to take a 30% reduction.

Arsenal released a statement to the effect which 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 per cent 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.

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“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 match day 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.”

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