All 20 Premier League clubs participated in a video conference to decide the way forward of the top flight, and it was decided that the league will only resume when it is safe and appropriate to do so.
Clubs across Europe, including the likes of Barcelona, Atletico Madrid, Juventus and Bayern Munich have instituted measures to reduce the salaries of their players in these trying times.
Some UK government officials earlier this week voiced their displeasure as to why Premier League players were not voluntarily reducing their wages while non-playing staff, who earn relatively less, were being furloughed.
"The sporting and financial implications for Premier League clubs as well as for The FA, EFL and National League were considered at today’s meeting," a statement from Friday’s meeting read.
"In the face of substantial and continuing losses for the 2019/20 season since the suspension of matches began, and to protect employment throughout the professional game, Premier League clubs unanimously agreed to consult their players regarding a combination of conditional reductions and deferrals amounting to 30 per cent of total annual remuneration.
"This guidance will be kept under constant review as circumstances change. The League will be in regular contact with the PFA and the union will join a meeting which will be held tomorrow between the League, players and club representatives."
The Premier League will also donate £125m to the EFL and National League while £20m will be used to support the National Health Service.
UK have recorded 38,168 Covid-19 cases and 3,605 deaths.
