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There's another factor behind Wenger's transfer policy. The small print of the refinancing bond the club negotiated last month apparently had very strict guidelines on transfer spending. According to a Telegraph article (13/7/06, no longer on-line I'm afraid) Arsenal are bound to a maximum net spend of £12m for the next 3 seasons (dropping to £5m for 2 years after that if thay become a mid-table club). Given they've already bought Adebuyor(£5m), Walcott(£10m), Diaby(£3m) and Rosicky(£7m) since Xmas and only received money only for Owusu, Bentley and Pennant(resale), I make it a net spend of around £14m this year. Even if you just count the spending since May he would still only have £5-6m net available for the rest of the season. The logic of this is that Wenger can only buy the likes of Ribery or Yaya Toure if he sells. This explains the apparent willingness to countenance selling Cole and/or Reyes. If Wenger had more funds available he would fight tooth and nail to keep both.
The truth is for the next 5-6 seasons at least Arsenal will not be the big-spending club that many fans expect them to be. It is very frustrating to see the likes of Spurs and Liverpool spending twice what we do but the danger of doing a Leeds is a danger with club debt so large. We're really very lucky to have a manager with Wenger's ability to work on a budget.
Thanks for that!
people need to understand how these things work. These guys are working for the future of the football club. They had to build that stadium to start competing with thebiggest teamsin Europe. Arsenal are indeed very lucky to have a 'complete manager'- one who doesn't just manage the team but looks after club finances as well. Otherwise Asenal would have remained a relatively small club.. or do a Leeds.
We are indeed lucky to have AW