Arsenal said players and four staff had been isolated at their homes after coming into contact with the owner of Greek club Olympiakos, Vangelis Marinakis, who has tested positive for COVID-19.
Arsenal's game at Manchester City on Wednesday was postponed after players from the London club were put into quarantine, making it the first Premier League football fixture to be called off because of coronavirus.
Arsenal said players and four staff had been isolated at their homes after coming into contact with the owner of Greek club Olympiakos, Vangelis Marinakis, who has since tested positive for COVID-19.
"We are strictly following the government guidelines which recommend that anyone coming into close contact with someone with the virus should self-isolate at home for 14 days from the last time they had contact," an Arsenal statement said.
"As a result, the players are unavailable for tonight's (Wednesday's) match against Manchester City and the Premier League has decided the game should be postponed."
The first postponement in the Premier League, which has a huge worldwide following, follows widespread disruption to football and other sports across the globe.
Arsenal were knocked out of the Europa League by Olympiakos on February 27. Marinakis, owner of the Greek club and English side Nottingham Forest, announced on Tuesday that he had tested positive for the coronavirus.
But Arsenal said the players and staff, who met Marinakis after the game at the Emirates Stadium, will return to work on Friday ahead of Saturday's trip to Brighton.
"The medical advice we have received puts the risk of them developing COVID-19 at extremely low," it added.
Olympiacos players, backroom staff and board members have all tested negative, the club said in a statement on Wednesday.
The Premier League called the move a "precautionary measure" and said there were no plans to postpone any other games.
Arsenal's opponents on Saturday, struggling Brighton, tweeted that their game was still on.
"Albion's match against Arsenal this Saturday remains scheduled to go ahead as planned, in line with government advice, and following consultation with the Premier League and medical advisors. #BHAFC," they tweeted.
The postponement means Liverpool's hopes of winning their first title since 1991 without kicking a ball have been dashed.
However, should City lose to Burnley on Saturday Jurgen Klopp's side can seal their first Premier League title on Monday with the added spice they can do so by beating city rivals Everton.
'We're not happy to go'
The Football Association, though, could take a financial hit according to the Daily Mail.
The FA have no insurance covering public health epidemics or what are deemed force majeure 'acts of God'.
So if they are forced to cancel matches -- which seems the likely scenario for the high profile friendly with Italy on March 27 -- or play them behind closed doors, it will cost them £3 million ($3.9 million) a game.
Football's Serie A and all other sports have been put on hold in Italy, while the top two divisions in Spain and France will be played in empty stadiums for at least the next two weeks.
UEFA's Champions League and Europa League have also been both forced to arrange matches behind closed doors as the epidemic spreads.
Olympiakos host Wolverhampton Wanderers in Athens this week in the Europa League, in one of the last-16 games that will be played in front of an empty stadium.
Wolves manager Nuno Espirito Santo has joined a number of managers, including Liverpool's Jurgen Klopp, in voicing disquiet at being asked to play without fans.
"If we have to go we will. But we don't agree -- we're not happy to go," he told Sky Sports.
"Behind closed doors doesn't make sense," he added. "We're pretending to live a normal life when things aren't normal."