Arsenal confirm players and coaching staff have taken 12.5% wage cuts amid the coronavirus crisis... with squad able to earn the money back if they 'meet specific targets on the pitch'

Arsenal players and manager Mikel Arteta have agreed to cut their wages by 12.5% to assist the club during the coronavirus pandemic.

Arteta's staff have also taken a cut in their salary and the club have said they will pay everyone back if targets are met when the season resumes.

The club said in a statement: '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.