I mentioned that one of the most respected magazines in the financial world, Forbes, wrote a four page center spread on the finances of Arsenal Football club, it also asked Usmanov and Kroenke to comment and both refused, so that added even more credibility to the story in my opinion.
A lot of toot is written about clubs and how rich they are, what defines riches, turnover (revenue) or income (profit)? here are a few facts about our finances, you make up your own mind.
During 2006/7 Arsenal match day revenue was $150 million against $82million in the last year at Highbury, that included tickets, merchandise, concessions and hospitality sales, that’s $6 million a game and $1 million a matchday more than Manchester United. Arsenal posted $77 million in operating profit, that’s earnings before interest, taxes, depreciation and amortization. Against a turnover of $329 million.
That makes us the 4th richest club in the world in profitability behind Real who made $112 million, ManU ($111) and Barcelona ($92) but ranks us 3rd in value at $1200 million, behind ManU at $1,800 and Real at $1,285.
The estimated worth of Arsenal includes our current debt, so even our value will soon rocket, once the 724 luxury apartments are released that debt should fast disappear and we’ll be in the black, current estimates, the end of season 2009.
So whichever way you look at it we have more cash available than Liverpool, both Milan’s, Juventus, Munich, Newcastle and Top4tottenham.
The only clubs that have more than that are ManU, Madrid and Barca, the Chavs and ManCity have sugar daddies so they could outspend us too, but that’s it, so we are not skint, we are in fact very, very rich.
So why are we not acting like it? Why did we spend less than anyone last season? I would love to have someone from Arsenal on here, to tell me why we seem to be a feeder club for the so called big boys, why players such as Anelka, Viera, Edu, Henry, Overmars, Petit, Flamini and now Hleb all go on to other clubs and then earn more money.
One AKB site yesterday reminded us that Wenger could speak 10 languages and Graham signed no-one, well a Tunisian beach boy can speak 10 languages so what was that point? And Ian Wright for me was one of our best ever signings and that was a George Graham buy, so to that ‘Inanimate’ blog site, good point, thanks
I didn’t read it by the way, it was brought to my attention. I wouldn’t give sites like that the time of day but that comment was sadly funny, in a Homer Simpson type of way, so I wanted to share it with you all, give you all a bank holiday laugh!
It has just come to my attention that an overseas Arsenal blog site today was wondering if sites like us could keep speculating for 92 days, well yes actually, we’re a blog site and we’re supposed to speculate, it’s obvious that writing about us is all these sites have to do this summer, we prefer to talk Arsenal, and no I didn’t read that one either, Pedro told me.
We move on swiftly, we were 2 or 3 players short this season, Wenger’s words, not mine, then we lost Diarra, Lehmann, Flamini and probably Hleb, so that must mean we’re signing 6 or 7 players, assuming that we’ll bring in Vela and Diaby with one from Randall, Lansbury, Wilshere or Denilson from the stiffs, does that mean 3 or 4 new buys?
If it does then I would go for Barry, Diego and Nasri. We urged Wenger to sign Nasri last summer and he didn’t, if he doesn’t do it by the Euro’s, his value will double, we also said that Diego would be worth a punt and given that he won’t sign Arfa and Nasri, then that would be my choice.
Though swapping Hleb for Goofy or Kaka and cash would make me respect Arsenal more, I expect we won’t though so I won’t labour the point.
All I am is an Arsenal fan trying to make other Arsenal fans happy, speculating about signing world class players and winning a few trophies is one way, watching John Terry and Nickolas Anelka take penalties is another, the latter won’t happen again for at least another year, though the former could happen tomorrow!
Here’s to mañana and have a happy holiday today Grovers.