philipl Posted July 16, 2009 Share Posted July 16, 2009 Robert Peston looks at Arsenal's money issues Arsenal pulled together an extremely sensible package for the Emirates stadium and one which other things being equal would have made them the financial and footballing giants of the 2010s. It was in many ways too good- low interest rates, vast property profits, Wenger's nursery- and made them complacent. The wheels are coming off: - the killer is the now five plus years battle for control, first resisting an American who saw the same opportunities at Arsenal as the Glazers and Hick/Gillett saw in the north (to use the inherent strength of the club against itself and get the action for free), and most recently avoiding a less unsavoury footballing fate- becoming an olygarch's toy. - that scrap means they cannot recapitalise the club with new shares which it desperately needs, because - the club gambled on getting the maximum value from the property development at Highbury and are now selling into a far worse market than they ever imagined - and their careful management of costs and investments on the football side are not paying off either - Citeh are blatantly buying Adebayor just to screw their most vulnerable rivals in the Big 4 in my opinion, and - with not too many exceptions, that nursery of highly expensive wunderkind are no more capable of adapting from the FA Youth Cup and Premier Reserve League South than Rovers' Academy products are Link to comment Share on other sites More sharing options...
This topic is now archived and is closed to further replies.