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The Gunners are currently 15th in the English top tier, just four points about 18th placed Fulham after a dire start to the season.
They've taken 14 points from as many games, winning four, drawing two and losing eight under Mikel Arteta.
And with Arsenal lurking dangerously towards the relegation zone following seven games without a win, it's emerged that the club do have plans in place should their underperforming squad end up in the Championship.
According to The Telegraph, a number of Arsenal players would be facing huge cuts - said to be 25 per cent - in the event that they are relegated for the first time since 1913.
Their move to prepare for the devastating financial situation that would ensue if they go down is rather unprecedented when it comes to England's leading clubs.
However, reduction clauses are fairly common for lowly clubs who feel they need to prepare for the worst happening.
Arsenal's wage bill currently stands at more than £150 million, with captain Pierre-Emerick Aubameyang and out-of-favour Mesut Ozil the two highest-earners on a reported £350,000-a-week.
Arguably the club are right to be planning for a doomsday scenario but talk of them doing so will no doubt be enjoyed by rival supporters.
The 'party,' hosted by fan Dave Newson, is open to the public and already has 18 fans registering their interest in 'going,' with another 16 'interested' in attending.
The event's description reads: "Let's celebrate the gooners [sic] going down at any pub near you."
Arsenal take on Manchester City in the Carabao Cup quarter final at the Emirates tonight, before hosting Chelsea in a London derby on Boxing Day.
Arteta believes his players need to show more fight instead of feeling sorry for themselves if they are to turn things around.
"Normally when [a bad run] happens you have two types of people - fighters and victims," Arteta said.
"You need fighters and you don't want any victims.
"Victims bring excuses, victims bring negativity and they start to blame anything that is happening around them or is not going their way. You need people who fight, people who contribute and people who are ready to give everything to the club in this moment."
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