The squad had already agreed to the deferment of 25% of their wages six weeks ago, and the club began implementing it at the end of February.
But they have now signed the paperwork needed to make the agreement official. The deferment has been capped to a level which does not affect younger players like striker James Milner and goalkeeper Scott Carson.
From the day the players salaries were affected, the club had a period of time in which to put the paperwork in place. This was completed at a meeting between the players and PFA executive member Richard Jobson.