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
MLS Moves: Toronto FC signs veteran defender Hernandez    
Defender Jason Hernandez will play his 13th MLS season as a member of Toronto FC. Hernandez, ...
What They're Saying: Michael Bradley    
"For us, the reality is simple. We let ourselves down in the first two games and ...
What They're Saying: Warren Smith    
"I can't get a break. But we need the rain, so it's hard to get upset ...
Datebook: El Clasico highlights ICC summer slate    
The fifth installment of the International Champions Cup will feature eight European clubs playing 12 games ...
MLS Moves: Fire bets big on Schweinsteiger    
Chicago last played in an MLS Cup final more than a decade ago, and to an ...
Hexagonal Countdown: A look at the U.S. lineup changes    
When the USA takes the field against Honduras on Friday night, there will be five, probably ...
Roster: U.S. U-23 women head to Portland and Orlando     
The U.S. U-23 women's national team will have training camps in Portland, Oregon (March 26-April 1) ...
Rocco Commisso: 'We're not doing a great job'    
The New York Cosmos held their first Media Day since Rocco Commisso bought the team and ...
Video Pick: Oops! Player thanks wife and girlfriend     
Ghanaian striker Mohammed Anas, of South Africa's Free State Stars, after winning Man of the Match ...
Video Pick: U.S. training underway in San Jose     
The USA began training in San Jose, California, on Monday to prep for Friday's crucial World ...
>> Soccer America Daily Archives