Arsenal players have turned down the new plan from the club to cut their salaries amid the current coronavirus crisis, Goal reports.
There have been in talks with senior officials over the last fortnight to reach an agreement.
Several options have been discussed, but so far none have been met with enough approval to be put into action.
Over the weekend, the idea of a 12.5% wage cut was put forward, with Arsenal trying to lessen the financial blow the club might suffer if the season is completed or finished behind closed doors.
There were clauses included in the offer, including paying players in full if they qualify for the Champions League.
It was, however, met with scepticism by the players, with the Gunners currently in ninth place.
Had that offer been accepted, it would have seen Arsenal cut around £25 million ($31m) from their annual £230m ($286m) wage bill.