ANKARA

English Premier League club Arsenal reached a "voluntary agreement" with its first-team players, head coach and core coaching staff on a 12.5% pay cut amid the COVID-19 pandemic.

"If we meet specific targets in the seasons ahead, primarily linked to success on the pitch, the club will repay agreed amounts," the club said on its website.

"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 statement said.

"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," it added.

"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."

Other Premier League sides Watford, Southampton, and West Ham United had agreed on wage deferrals with their first-team.

According to British health authorities, 386,044 people in the U.K have been tested, of which 124,743 tested positive on Monday.

The country is among the hardest hit by the virus, with over 16,500 deaths to date.