Gazidis exposed as financials reveal disgusting plan…

by & filed under Uncategorized.

Arsenal just released their latest financials so Geoff and I have put a few comments together about our initial thoughts on what we’ve been presented.

Key points and questions:

  • We’re £200million in debt. £130million less than last year.
  • What happened to the sponsorship money we received up front? £100million from the Emirates + whatever Nike provided.
  • How come the property sales haven’t covered off more of the debt? £95mill to develop, we’ve recouped £200+ million so far with a further 130 odd flats to go.
  • What happened to our television money? We earn £50million+  from the EPL and the Champions league.
  • What has happened to the transfer budget we never spend? We’re in the black for the last 5 years.
  • Pleading poverty when you can comfortably increase the wage bill by £17million seems a little outrageous. This is before Cesc has signed a new deal, so expect it to increase further despite no additional achievement (You know, trophies). This increase is despite losing Adebayor (80k p/w) and Kolo Toure (50k p/w).
  • The player sales of Adebayor and Kolo appear to be key to keeping us in profit, despite the fact we lumped £130million off the debt. Will are use this as a stick to beat the fans who want us to spend money?
  • Arsenal make £3million a game of of you, the fan but don’t want to give anything back for your investment.

Conclusion:

The club are being frugal to pay off the debt quicker, but why? We have a 17 year mortgage don’t we?

Is it to be able to invest in the world class player that are currently out of our reach or is it to make the club more attractive to sell to an investor who will immediately plunge the club into debt and put us in a Manchester United/Liverpool situation.

If it’s the latter, like Geoff and I have predicted for a while… are you still happy?

More to the point,  what is the MO of Gazidis? Is it to make us a world class club or is it to clear the debt for the owner in waiting, Stan Kroenke. I wonder what the bonus scheme looks like for our master of marketing and man of the people?

Is he the trojan horse, has he been employed to use our money to fatten the wallet of a billionaire? Is this the reason Stan hasn’t taken his holding to 30% becuase he doesn’t want to buy the club till it is debt free? No wonder he doesn’t answer questions at the AGM…

Will the fan base wake up and smell the coffee now? Are the debt buster brigade still pleased to see fan money go towards making a hideously wealthy cowboy even richer?

We’re being conned and it makes me sick to the pit of my stomach.

Pedro

615 Responses to “Gazidis exposed as financials reveal disgusting plan…”

Jump to comment form ↓

  1. Sajit

    So let me get this straight. Arsenal are getting rid of their debts – and not buying anyone so that some guy( who came in to the picture 2 years ago ) can buy a debt free club and thereby make millions?

    I’m sorry, but that makes little sense to me.

    Why would anyone agree to that? Are the board members getting bribed? Is that the theory?

  2. JJ

    Kroenke is not the person you make him out to be. He runs his US teams (Rapids and Avalanche) very well and is “silent” in ownership there as well. He may be waiting to increase his stake when the club is debt free but that is just good business sense not an indicator of what his plans are with the club.

  3. Harry Barracuda

    I took one look at the first comment about The Emirates sponsorship being paid up front – when it never was – and realised you’re just a fucking shit stirrer.

    Why don’t you do some research or shut the fuck up with your nonsense, you utter fucking retard.

  4. ritesh

    Arsedent,

    Vikash Dhorasoo…. he is Mauritian…Not even that, half Mauritian, half french… not Indian.

    Lets not forget cricket is the number 1 game in India and in that regards the IPL has nothing to envy being the Top league int he world. Size does not matter as Sachin proves… but there is size too whether it is from Jharkhand…or Punjab 😉

  5. am

    To the idiot aussie’s on here:

    We actually beat good teams, not like the ones you have beaten recently. Thats why we are test number 1.

    My rant for the .

  6. Ash Crimson

    baseball kicks cricket ass any time. end of story

    crickets are for people (or should i say, country) that’s too poor to play baseball. wow it’s so hard to hit a slow, spinning ball thrown to the ground. must be harder to catch it! running to and front? that must be the hardest!!!

  7. DAF

    Pedro and Gambon. This is what us sane Arsenal fans know:
    http://www.independent.co.uk/sport/football/premier-league/the-debt-league-how-much-do-clubs-owe-1912244.html

    “A pocket of financial sanity”. There. Enough “facts” for you?

    Thanks for respecting my opinion. Sorry I transgressed by daring to point out this blog was a gathering place for doom mongers. Freedom of speech? Pfff.

    Just fyi, your blog manages to disregard the committment you say you will uphold on your About Us page (unless calling people a tw*t etc, is OK and not “being abused by other fans, their own or others”.)

    Good Red Top headline though, it must be a record level of comments for you. Nice.

    OK, now off you go, carry on moaning….

  8. Andy Mack

    Hi, Can I give you a word of advise about Life;
    If you are ever in debt, pay it off as quickly as possible. Don’t give someone else 5% – 15% or whatever interest when you can be gaining interest to make your life better for the long run. Paying others when you don’t need to is an idiots game gaining only short term temporary benefit. It will be the downfall of Manure and others. But I’m lucky to support a team that knows that and I’ll never be in the same situation as the Leeds C*nts or the Pompey boys.

  9. Damian

    Amazing in 2000 Wenger spent 50M before billionaires inflated the market out of our reach add the cost of Stadium & Flat development & there has been no money so no choice as for the repayment while you owe u pay interest 100m at 5% cost 5m a year payed over 20y u pay 200m but it would be reducible the second u can pay u do pay saving the interest as for the valuation the debt payed or not its the same value if its 400m + 300m debt he pays 400m then the debt same as this board if the debt is payed he pays 700m