Premier league footballers cutting salaries

Would the clubs not be able to invoke force majeure anyway?

Am sure they could; but players, being such prima donnas, wouldn't be at all happy and would have their agents lining them up for a move as soon as things get back to normal. 

Have u ever seen a footballer employment contract?  They are basically top notch if not written on a packet of JPS.  Ask harry redknapp about force majeure and he'll start talking about Ultravox being kept of Number One by Joe Dolce.