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
U.S. U-17s boys romp again, beat Turkey, 5-1     
After opening the Nike International Friendlies with a 7-1 win over Portugal, the U.S. U-17 boys ...
U-20 WWC: USA falls to Japan in third-place game     
Japan outshot the USA 29-3 while beating the Americans 1-0 in the third-place game at the ...
U.S. Abroad: Alvarado headed to Santos for Torneo Clausura    
Ventura Alvarado is back in the starting lineup at Mexican giant Club America, which tied Necaxa, ...
U.S. Abroad: Gooch faces three-month layoff    
Sunderland's Lynden Gooch, who made his English Premier League debut in August and U.S. national team ...
What They're Saying: Roberto Assis    
"It is a very difficult time. Later on, if there is a contact, we can talk. ...
Women's College Cup: Upstarts battle former champs    
The Division I women's season is down to its final weekend. Georgetown and West Virginia are ...
MLS Cup Countdown: Stars escape major injuries    
Both MLS Cup finalists had key players limp off in the second legs of the conference ...
MLS Preseason: Tournaments set at three sites    
The 2016 MLS season doesn't wrap up for another week, but teams are already finalizing plans ...
What They're Saying: Gareth Southgate    
"The days are gone from when I was younger where we did have beers after a ...
MLS Moves: Minnesota signs first two players    
MLS expansion team Minnesota United signed a pair of defenders -- Justin Davis and Kevin Venegas ...
>> Soccer America Daily Archives