Arsenal players are believed to have rejected a pay cut of 12.5 per cent over the next 12 months.

The move was a bid to offset the club's loss in revenue as a result of fixtures being suspended due to the coronavirus outbreak.

All elite football in England has been suspended until at least April 30, while Premier League clubs have admitted it is not realistic to plan for the campaign to resume at the beginning of May.

The Arsenal proposal is believed to have included an improved agreement at a later stage to make up for the wage cut and a lower percentage reduction if the club qualified for Europe next season, according to The Telegraph.

It was further reported that within the agreement any wage cuts taken by players who subsequently left the club within the 12-month period would be repaid.

The PFA, which represents players, has advised them not to take wage cuts as it could have a detrimental impact on the NHS due to a fall in tax revenues.

The coronavirus has hit Arsenal close to home after manager Mikel Arteta was one of the first high profile names to contract the virus.