• Arsenal Message Board

  • FABONGRASS FABONGRASS Jun 11, 2013 18:44 Flag


    Arsenal are developing the fiscal power to compete with Manchester United and, if Uefa’s new financial fair-play regulations are enforced, move CLEAR of Chelsea and Manchester City.

    Gazidis’s frustration is more complicated. It concerns not only the failures of this past season but also the repeated accusation that Arsenal lack ambition. “We get beaten up along the way but I think we are EXTRAORDINARILY AMBITIOUS,” he said.

    A glance this week at Deloitte’s latest report into the health of leading European clubs SUPPORTS HIS CLAIM. With the benefit of moving to the Emirates evident in their match-day takings,ARSENAL ARE ALREADY SIXTH ON THE LIST OF EUROPES RICHEST CLUBS, with an annual turnover of £234.9 million.

    What is often overlooked, however, is that to secure the funding to build the Emirates, Arsenal sacrificed a series of commercial opportunities. Decade-long deals were agreed in 2004 for their kit and shirt sponsorship which have offered diminishing market value over the past five years.

    In 2011-12, Arsenal's commercial revenue of £64.9 million was dwarfed by Manchester United (£145.4 million), Bayern Munich (£201.6million) and even Liverpool (£99.1million).

    For that reason 2014 has long been looked on as a sort of promised land by the Arsenal board as their major commercial deals expire then. New sponsors or dramatically enhanced renegotiations are being rapidly secured.

    If Arsenal maintain a RELATIVELY CONSERVATIVE 60 per cent salary to turnover ratio,THAT WILL MAKE AN ANNUAL WAGE BILL OF £180 MILLION EASILY AFFORDABLE within the next two years. For context, Chelsea’s current wage bill is £173  million and Manchester United’s £162million.

    What this means to those clubs below them is also significant. Whereas Arsenal planned for the day when their commercial revenues would catch up to their real value, those clubs who have not moved stadiums, notably Tottenham, Liverpool and Everton, face falling even further behind.


    Much love

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