Arsenal chief Ivan Gazidis has dismissed claims the players will be asked to take pay-cuts if they fail to finish in the top four.

"Arsenal is not a big gambling club, it is a very conservatively-run club. I don't think it has ever been a club that has relied on revenues that are uncertain," he said.

"The revenue levels to service the contracts are levels we are comfortable with and those player contracts are at levels that are sustainable for us."