Premier League clubs, including Norwich City, will ask players to take a 30% pay cut in order to protect jobs in professional football during the coronavirus outbreak.
It follows a meeting between the Premier Leagues shareholders on Friday in which they unanimously agreed to approach players about the proposal which would be achieved by a "combination of conditional reductions and deferrals".
It was also confirmed that the season won't resume until it is "safe and appropriate to do so", with the previous re-start date of April 30 now out of the window.
The EFL campaign has also been suspended indefinitely.
However, both EFL and Premier League clubs remain determined to finish their seasons to "maintain the integrity of the competition".
"It was acknowledged that the Premier League will not resume at the beginning of May – and that the 2019/20 season will only return when it is safe and appropriate to do so," a statement read.
"The restart date is under constant review with all stakeholders, as the impact of the Covid-19 pandemic develops and we work together through this very challenging time.
"With this, there is a combined objective for all remaining domestic league and cup matches to be played, enabling us to maintain the integrity of each competition. However, any return to play will only be with the full support of Government and when medical guidance allows."
The Premier League say they stay in regular contact with the players' union, the PFA, about the wage cut proposal, with a meeting scheduled for Saturday.
Clubs also pledged to give £125m to the EFL and National League in order to support clubs who have lost their matchday revenue, while £20m will be donated to the NHS.
"The League, clubs, players and managers express huge appreciation for the heroic efforts of NHS staff and all other key workers who are carrying out critical jobs in such difficult circumstances," a spokesperson said.
"In consultation with the Department for Digital, Culture, Media and Sport, the Premier League is immediately committing £20 million to support the NHS, communities, families and vulnerable groups during the COVID-19 pandemic. This funding will enable both immediate and longer-term support during the crisis."