Join Now  | 
Home About Contact Us Privacy & Security Advertise
Soccer America Daily Soccer World Daily Special Edition Around The Net Soccer Business Insider College Soccer Reporter Youth Soccer Reporter Soccer on TV Soccer America Classifieds Game Report
Paul Gardner: SoccerTalk Soccer America Confidential Youth Soccer Insider World Cup Watch
RSS Feeds Archives Manage Subscriptions Subscribe
Order Current Issue Subscribe Manage My Subscription Renew My Subscription Gift Subscription
My Account Join Now
Tournament Calendar Camps & Academies Soccer Glossary Classifieds
Arsenal fills war chest
February 27th, 2012 11:52PM
Subscribe to Soccer America Daily

MOST READ
TAGS:  arsenal, england, soccer business

MOST COMMENTED

[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




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Soccer America Daily
What They're Saying: Vicente Del Bosque    
"I have no intention to remain as coach. No matter what the result of the Euros, ...
What They're Saying: Yura Movsisyan    
"I could never repay what they did for me." -- Yura Movsisyan, on Tony Beltran's family, ...
MLS Rookie Watch: Harrison joins race    
Jack Harrison, the No. 1 pick in the 2016 MLS SuperDraft, has solidified a starting job ...
U.S. Abroad: Rodriguez moves to Chemnitzer FC    
U.S. U-23 forward Mario Rodriguez, who spent three seasons in the German Regionalliga with Borussia Moenchengladbach ...
MLS Moves: Timbers loan out Asprilla to Colombian club    
Portland's wait for Dairon Asprilla to light up MLS is over. The Timbers announced Thursday a ...
MLS Countdown: NYCFC sharp heading into derby rematch    
Six weeks after the Red Bulls stampeded New York City FC, 7-0, in the first Hudson ...
Euro 2016: Results & schedule    
Belgium will play Wales in the Euro 2016 quarterfinals on Friday. The Red Devils will be ...
Video Pick: The Bundesliga's 10 Strangest Goals    
The folks at the Bundesliga took advantage of the offseason to compile last season's Top 10 ...
Datebook: USA headed to Cuba for friendly in October    
The U.S. men's national team will play a friendly game in Cuba for the first time ...
What They're Saying: Errea export manager Fabrizio Taddei    
"We are working 24/7 with a night shift and so we are every day sending out ...
>> Soccer America Daily Archives