Juan Sebastian Veron, captain of South American champions Estudiantes, has taken a 40% pay cut in his new one-year contract to help fund the club's junior teams, the midfielder told a news conference.
"I think it's the right gesture at a difficult time. The money can go towards the kids, who are the ones that keep the club going," he said.
A debt crisis in the Argentine game has forced the start of the season to be postponed.
"The moment has come to roll up one's sleeves and work for the rest, especially those of us who had the chance to forge careers in Europe," the 34-year-old former Sampdoria, Parma, Lazio, Manchester United, Chelsea and Inter Milan player said.
Veron led Estudiantes to victory in the Libertadores Cup final last month, crowning the modest Argentine club South American champions for the fourth time.