Spend what you earn or reap what you sow?
Based on the club ethos of balancing the books and running the club the ‘right way’, it is fair to ask as fans ‘Why are we not spending what we earn?’
I don’t proclaim to be a financial wizard, so my assessment will be pretty basic, but the whole point of moving to The Emirates was to be competitive with the bankrolled clubs and challenge at the highest levels.
It’s just that we don’t seem to be keeping true to our philosophy!!!
Give or take a couple of quid, our finances then and now, break down as follows:
05/06: Turnover £135m
Match day income: £40m
TV and broadcasting: £55m
Retail and commercial: £30m
Wage bill £85;
14/15: Turnover £345m
Gate and match-day: £100m;
TV and broadcasting £125m;
Retail and commercial: £105m;
Wage bill £192m;
Moving to The Emirates has been a financial master stroke.
Everything has increase by 200%+.
And, according to the yearly accounts we have in excess of £270m in the bank and net debt of £6m, but, still we won’t spend to really compete with the big boys….
Why, why, why.
I have a theory and a conspiracy theory.
The obvious theory –
Stan is the epitome of absentee investor owner.
He is only in it for the money and doesn’t give stuff about the club/fans.
He takes his £3m wage for ‘strategic and advisory services’ and rubs his hands as the share price rises.
LA Arsenal here we come!!!
The conspiracy theory –
Wenger ISN’T being allowed to spend the money.
As is common knowledge, this is likely to be Arsene’s last season.
Are the board limiting Wenger’s spending powers to enable the new guy to start with a clean slate?
If the former is the case, we need to get rid and bring someone who actually cares about football and the club.
If the latter is true, it’s a risky game to play and bloody harsh on Arsene.
If it all goes Pete Tong and we end up outside the Champions League or worse, will we be able to attract a world class manager and Wenger’s legacy is ruined because of one bad season.
Whatever is the real reason, we need to shut up and pay up.
The Mustafi deal is signed, sealed and waiting delivery, stop fannying about trying to save money on a cheaper alternative, we need a centre back, the money is available, we are not going to bankrupt on one deal, but it could cost us a damn sight more if we don’t invest.
Then, in the last 10 or so days of the window, please, find a centre forward.
From Steve Rowley to Danny Karbassiyoon, get the scouts out and get them turning every stone.
I like Giroud but he needs help/support and Alexis is wasted as a lone striker.
If by the end of August, We don’t have newbies in place, I fear, I fear for the club, I fear for the fans and I fear for Wenger……