Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySoccer World DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America ClassifiedsGame Report
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Arsenal fills war chest
February 27th, 2012 11:52PM

TAGS:  arsenal, england, soccer business


[MONEY MATTERS] Arsenal may be struggling on the field, but it's doing well on the bottom line, reporting pre-tax profits of more than $78 million for the first six months of the fiscal year. The Gunners have cash reserves of more than $182 million and no short-term debt. The club's chief executive, former MLS deputy commissioner Ivan Gazidis, insisted that will be enough of a war chest for the summer transfer market if the Gunners fail to return to the Champions League, where they've competed for the last 14 years.

Most of the Arsenal profit stemmed from the sale of Cesc Fabregas (Barcelona), Samir Nasri (Manchester City) and Gael Clichy (Manchester City).

Qualification for the Champions League proper is thought to be worth more than $60 million a season to the Gunners, who are tied with Chelsea for fourth place in the English Premier League. (The top four teams qualify for the Champions League.)

"We don't have the kind of money that other clubs have," said Gazidis, "but we have enough, I believe, if we do it right, to be able to compete at the very highest levels of the game. Our manager [Arsene Wenger] has a fantastic track record of getting those decisions mostly right. There's an expectation at the club that we are in the Champions League every year but we can't gear our entire financial model around that, as that would place the club in jeopardy if we didn't qualify. So we have always got to keep something in reserve."

No comments yet.

Sign in to leave a comment. Don't have an account? Join Now



Recent Soccer America Daily
What They're Saying: Kei Kamara    
"There was part of me saying, there's no way they can get two goals in the ...
U.S. Abroad: Bedoya sees red for Canaries    
Alejandro Bedoya's first Ligue 1 start for Nantes in more than two months ended ignominiously as ...
Red Bulls-Crew SC Takeaways: Columbus holds on, barely    
A 2-0 lead from the first leg proved to be just enough for Columbus to capture ...
FC Dallas-Portland Takeaways: Timbers are peaking    
On the verge of elimination in the shootout of the knockout round against Sporting Kansas City, ...
Video Pick: Klopp gets Scouse lesson from boy reporter     
Liverpool coach Jurgen Klopp sits down for an interview with 9-year-old Kop Kids reporter Isaac, who ...
MLS Best XI: A new order    
LA Galaxy forward Robbie Keane, earning his fourth consecutive selection, was the only repeat selection on ...
What They're Saying: Livorno president Aldo Spinelli    
"I'm relaxed. At this time, the coach is not at risk." -- Livorno president Aldo Spinelli ...
U.S. Abroad: Fabian Johnson is on fire    
American midfielder Fabian Johnson is suddenly one of the hottest scorers in Germany. He scored two ...
Scoreboard: NCAA Division I Men's Tournament    
Unseeded Boston College knocked out Big East champion Georgetown, No. 1 in the final Soccer American ...
What They're Saying: Jurgen Klinsmann    
"Watching the MLS playoffs has been tremendously exciting. The games in the first round with the ...
>> Soccer America Daily Archives