Arsenal's players will receive some of the money back if they hit targets on the pitch. [Source: BBC]

Arsenal’s first-team players and head coach Mikel Arteta have agreed a pay cut to help with the financial impact of the coronavirus pandemic.

The Premier League club said the “voluntary agreement” sees those involved have their annual earnings reduced by 12.5%.

The club’s core coaching staff are also among those taking cuts to their pay.

If the Gunners hit certain targets on the pitch, the club says “agreed amounts” will be paid back.