I am writing this after our second disastrous away defeat in a row against Swansea which has placed us level on points with the mighty Newcastle. The defeat did not come as a surprise but was the result of 6 years of under-investment within our squad. I have defended Arsenal’s policies for a very long time and argued about the importance of having a club with financial stability but having reviewed the 2011 accounts and researched into our transfer spending I simply cannot defend them any more. The results suffered this season raise serious questions about the ambitions of our board of directors and what plans if any they have for the future of our great club.
The table below (downloaded from www.transferleague.co.uk) provides grim reading about our transfer policy since 2006. This league table shows the difference between the money spent on players and money received from player sales and then ranks teams in order of net spending. It comes as no surprise that Manchester City and Chelsea are the top 2 spenders in the League but for Arsenal to be bottom is a total shock. Is it any surprise that this period has seen us win no trophies? After all how can a team grow if the intention is to clearly profit from player sales rather than to simply buy the best?
|
|
|
||||
|
# |
2006 – 2011 |
Purchased Gross |
Sold |
NET |
Per Season |
|
|
|
|
|
|
|
|
1 |
Manchester City |
£537,670,000 |
£100,550,000 |
£437,120,000 |
£87,424,000 |
|
2 |
Chelsea |
£267,100,000 |
£122,200,000 |
£144,900,000 |
£28,980,000 |
|
3 |
Liverpool |
£309,540,000 |
£226,330,000 |
£83,210,000 |
£16,642,000 |
|
4 |
Tottenham |
£238,300,000 |
£162,100,000 |
£76,200,000 |
£15,240,000 |
|
5 |
Aston Villa |
£168,800,000 |
£100,400,000 |
£68,400,000 |
£13,680,000 |
|
6 |
Sunderland |
£146,900,000 |
£84,225,000 |
£62,675,000 |
£12,535,000 |
|
7 |
Manchester United |
£217,200,000 |
£160,350,000 |
£56,850,000 |
£11,370,000 |
|
8 |
Stoke City |
£72,725,000 |
£16,520,000 |
£56,205,000 |
£11,241,000 |
|
9 |
Fulham |
£76,975,000 |
£30,075,000 |
£46,900,000 |
£9,380,000 |
|
10 |
Bolton |
£73,150,000 |
£34,150,000 |
£39,000,000 |
£7,800,000 |
|
11 |
Wolves |
£45,725,000 |
£9,375,000 |
£36,350,000 |
£7,270,000 |
|
12 |
QPR |
£25,000,000 |
£2,050,000 |
£22,950,000 |
£4,590,000 |
|
13 |
WBA |
£51,485,000 |
£41,360,000 |
£10,125,000 |
£2,025,000 |
|
14 |
Swansea |
£12,355,000 |
£6,860,000 |
£5,495,000 |
£1,099,000 |
|
15 |
Everton |
£64,750,500 |
£63,750,000 |
£1,000,500 |
£200,100 |
|
16 |
Norwich City |
£8,275,000 |
£9,500,000 |
-£1,225,000 |
-£245,000 |
|
17 |
Wigan |
£63,500,000 |
£70,000,000 |
-£6,500,000 |
-£1,300,000 |
|
18 |
Blackburn Rovers |
£36,852,000 |
£65,690,000 |
-£28,838,000 |
-£5,767,600 |
|
19 |
Newcastle |
£93,100,000 |
£122,450,000 |
-£29,350,000 |
-£5,870,000 |
|
20 |
Arsenal |
£85,150,000 |
£116,500,000 |
-£31,350,000 |
-£6,270,000 |
You are probably thinking that we have been forced to reduce our spending because of the stadium that we have had to finance. However in the 2 years to May 2011 we have generated £187.2m from property sales and the board have stated in the 2011 accounts that they expect to gain a further £79m in receipts from the sale of the flats currently being built around the stadium.
Our over prudence gets worse; the 2011 consolidated accounts also show that our total cash reserves are a staggering £52m and that’s before you account for the £17.95m in net player receipts from this summer. Our wage bill is only 55.2% of our total turnover so we are well within FIFA’s Fair Play regulations introduced this season. Our Net Assets are £267.955m and our accumulated profits are £211.197m. Although I understand and totally appreciate the requirement to balance the books but why are we hoarding cash and continually striving to earn increased profits?
The fact remains that Arsenal is a business that pretends to be a football club. Our priorities obviously lie outside of football. What is even worse is that it appears that we are budgeting for our non involvement in the Champions League. Our continual refusal to invest in the squad has made it inevitable that this season we will finish outside the top 4. Our Board’s short sightedness will cost our club dearly in the immediate future. They do not realise that without success they will alienate their number one customer – the fans.
The Board have also failed to realise a very important fact that will affect both our profitability (which they obviously care about) as well as our ability to compete as a team (which only us fans care about). At the end of the 2013/14 season our current shirt sponsorship deal expires. Unless our club starts winning trophies we will struggle to attract a large sponsor. To get an idea of the potential money involved please see below the current 3 biggest shirt sponsors in the Premiership (the figures are in millions of Euros per annum):
€m per annum
Liverpool – Standard Chartered 22.75
Manchester United – Aon Corp. 22.75
Chelsea-Samsung 15.70
Arsenal – Emirates 6.25
This season has highlighted key short comings in our team and our transfer policy. Our board represents an old mans club and clearly lacks someone with a genuine football background. Ivan Gazidis became our Chief Executive on 1 January 2009 but he comes from a law and marketing background. He replaced Keith Edelman not David Dein (he although he took over his roles) and what’s worse is that he supports Manchester City! Unless the following key questions are answered and acted upon then we will continue to fall behind in the competitive stakes:
I am genuinely fed up of having my intelligence insulted by Arsenal’s board of directors who always talk a good game but who actions show that they value money way above becoming a great club.
@TNCHARLES
Football Friends bring you the latest football news and opinion from football fans around the world. Football News
34 comments