Unambitious Arsenal continue to hoard mountains of cash…

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#GetWellSoon

#GetWellSoon

Happy Saturday everyone, how was your Valentines day night? I can’t even remember mine! That’s how good it was…

Anyway, let’s talk football, because we all love football.

Arsenal announced their financials yesterday. Guess what? We have even more money than many predicted! £120m cash available to the manager to spend. Quite incredible. By the summer, realistically, we could have another £40m! So the manager could literally go on a Chelsea style spending spree all within the confines of ‘sustainable’… here are the highlights, which in the main, from a sporting perspective are actually low lights…

These were pulled together by Rhys who is a long time Grover that understands a bit more about the money than me.

Topline…

1. Arsenal have continued to hoard cash in the first half of this financial year, the position improving £20m over a year before. They now have £143m in cash, of which just over £120m is free to use. This will rise by another £40m this summer.
2. The turnover is pretty much identical to last year, with the one-off property sales of last year being replaced with new commercial deals, extra Emirates Cup revenues and more TV money. Based on there being 17 matches in the second half vs 11 in the 1st half at home, annual turnover should get close to £300m. Revenue in the football segment is up just shy of 30% this year.
3. Arsenal’s net transfer spend in cash terms in the summer was only £12m. This is obviously due to spreading out transfer fee spending and receipts over several seasons, but it hardly shows the club pushing the boat out, does it?
4. Wages have gone up again, with an extra £9.2m for 6 months suggesting an increase in the wage bill close to £20m for the full year. That is what might be called ‘inflation-busting pay rises’, it being somewhere between 13 and 18% depending on what the actual total bill for football staff wages actually is.
5. The stadium repayment will see outstanding debt drop below £200m in 2015, which is rather at odds with all the fans and media pronouncements that ‘Arsenal have paid off their stadium debt’, doesn’t it?? The first 10 years will have seen £60m out of £260m capital repayments with quite a bit of associated interest added on. But as a percentage of annual turnover, the mortgage payment will have dropped from around 9% to 6% over a 10 year period.
6. The only reason the period saw a P+L profit is due to a £5m tax credit associated with changing government corporate tax rates. Otherwise they made a small P+L loss.
7. In cash terms, the first half is always less good than the second half due to the imbalance of home fixtures, so a loss of £10m is well within the bounds of a cash-neutral full-year wet of accounts.
8. The only real item of interest on the balance sheet is a £35m worsening of the ‘short-term debtors – short-term creditors’ position: not sure of the reason, but it’s nothing radical to worry about. Most of it will be due to increased wages, a £10m+ instalment for Ozil and less transfer payment income from old sales I suspect.

So there we are. Arsenal are well run, we turn in great financials, but we’re not exactly pushing the boat out. We have an owner who is so anti risk it’s embarrassing he opts to run sports clubs, we have a manager who is so absorbed in his one man mission to win things on a budget he won’t push for trophies and we have a CEO who kind of sits on the fence in case he’s told off.

A beautiful concoction that means we suffer top four mediocrity. I was speaking to a Leeds fan yesterday and he laughed at my Premier League ‘first world’ concerns, and he’s right, we shouldn’t moan… but it could be so much better. So I will moan.

In other news, Jose Mourinho has been drawing attention to himself which is dull as dishwater, but mildly amusing because however much you hate him, he kind of has a point on Wenger…

“He’s a specialist in failure,”

“If I do that in Chelsea, eight years, I leave and don’t come back.”

When you’re kicking on for ten years without a trophy, it’s difficult to really carve yourself out as being successful. There are, of course, many metrics of success, but let’s not make excuses here. If you’re paid £7.5m a year, your main metric for success is a trophy. You need to deliver something. You need to push the boat out to win things. You need to deserve that next deal.

I like the stability Arsene brings to the club, especially when you consider the mess that’s occurring over at United. However, we’re hardly capitalising on 6 clubs around us changing up there manager over the last year. Wenger has geared himself up for another failure this year… yet he has £120m in the bank. What would be the excuse this year?

‘Money isn’t the answer, even thought it’s the reason Chelsea or City have won something…’

What would be the justification for another deal if we’re being honest… we’re building something? Wenger has been building something for a decade. When do Arsenal put a stake down in the ground and say… Arsene, you need to win something now.

Who bloody knows. But take all emotion out of what Jose is saying, take away the fact it’s a classless comment… he’s right, and that’s why it hurts.

… it also takes the focus off Chelsea being the clear favourites for the league now.

Have a great day… I’m off to nurse a hangover and build some phone book bridges after sending message to all the single ladies.

Whoops…

644 Responses to “Unambitious Arsenal continue to hoard mountains of cash…”

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  1. Romford Pele

    N5, yeah I was very much down for Jovetic joining. It looked very much like it would happen to with the player willing, but we didn’t wanna pay the money from what I gather.

  2. Keyser

    MidWestGun – Nah you somehow expected better, like the spacing between the players and so on, I tried to explain that the lack of physicality and pace mean’t players struggled to hold their own and their position, Which mean’t they clustered together whether in attack or defence.

    Chelsea are a goal down and haven’t really changed style or tactics, Citeh are still making all the play and have now just picked them off.

  3. Bamford13

    Brilliant goal. Nasri may be a pr.i.ck, but he’s a quality player. City really are a fantastic passing side. Great combinations going forward.

  4. Keyser

    MidwestGun – Insert – In my opinion, In my View, I think, where appropriate so it doesn’t sound like a sermon, heh.

  5. Norfolk

    I love to listen to the Chelsea fans sing their complicated chants.
    The usual…..Chelsea – Chelsea – Chelsea – Chelsea – Chelsea – Chelsea – Chelsea has now been eclipsed by the very wordy Jose Mourinho – Jose Mourinho – Jose Mourinho – Jose Mourinho – Jose Mourinho – Jose Mourinho.
    Whoever said they were too thick to string two words together is clearly wrong.

  6. hackneylad

    That’s the thing about creative players like david and ozil they need fellow creative players to spark of on the same wave length as them.

    Without there is not much they can do to unlock defenses.

    Today for instance Silva played so well because he had Jovetic then Nasri to partner with.

    Ozil in theory should have Cazorla but his been a shadow of himself recently whilst you could see the Ozil Ramsey partnership was great.

  7. Leedsgunner

    “3. Arsenal’s net transfer spend in cash terms in the summer was only £12m. This is obviously due to spreading out transfer fee spending and receipts over several seasons, but it hardly shows the club pushing the boat out, does it?
    4. Wages have gone up again, with an extra £9.2m for 6 months suggesting an increase in the wage bill close to £20m for the full year. That is what might be called ‘inflation-busting pay rises’, it being somewhere between 13 and 18% depending on what the actual total bill for football staff wages actually is.”

    So we spend virtually nothing on new players but our wage bill still goes up. No wonder our deadwood is so difficult to move on. Simply speaking they have it too good for doing not a lot.

    *Sigh*

    They call this good financial management?!?

    I have to say I don’t hold much hope for tomorrow. He looks mentally exhausted, physically exhausted and out of ideas. That’s just Wenger. i cannot imagine how deflated the squad must feel. We started the season on such promise… how frustrating!

    “Specialist in failure”? Only because he’s chosen to bring it upon himself. As these financial figures show, he had the money to strengthen the squad… his ego is worth more to him that swallowing his pride and acting like a football manager rather than a lord of his own empire.

    Whilst our rivals strengthen with players like Matic (how we could use someone like that now, we’re told that Kallstrom was the best he could do…

  8. Keyser

    MidwestGun – We’ve played like that all year, except we hadn’t just been tonked by Liverpool, we were more tentative than normal, but then so were United determined to keep us out.

  9. Keyser

    Doubt Mourinho’s too bothered, Citeh now have the Carling Cup final, the rest of the FA Cup, aswell as the League and Champions League.

  10. Leedsgunner

    Chelsea getting knocked out of the FA Cup is bad news for us. It’s one less front for them to fight on, whilst they consolidate their title credentials.

  11. Marc

    Chelsea have been really poor today. Dropped points in the league recently against Westham and WBA, this is the most mixed season I can remember.

  12. Norfolk

    El TelFebruary 15, 2014 18:44:26
    Hope they get spanked with a close up of that fish faced cunts ugly mug all over the screen.”

    Is Glen Hoddle at the game then ?

  13. Radio Raheem

    I don’t Chelsea want to lose this match. It’s their realistic chance of a trophy this season. They won’t win the league or CL.

  14. hackneylad

    City have won this not from their attacking play but their pressing play.

    Chelsea don’t have an opportunity with the likes of Yaya Garcia Kompany even Lescott pressing them not giving them a second on the ball.

    Why do Man City play that Dermichillies (can’t spell name) guy? He makes their pressing game null and void with his lack of legs.

  15. Keyser

    MidwestGun – Heh, I usually take it as a given, but then people start calling you smug, or worse still someone called me ‘smart’ last week.

  16. Dissenter

    This was not even a contest.

    Arsene, are you watching.
    City played their best fit team, though they have Barca midweek.

    A win begets a win.
    Lose with a second rate team and the group morale suffers.

  17. Norfolk

    KeyserFebruary 15, 2014 18:47:07
    Doubt Mourinho’s too bothered, Citeh now have the Carling Cup final, the rest of the FA Cup, aswell as the League and Champions League.”

    I bet he hates it 🙂

  18. Jake

    Dissenter

    I’d accept your logic but Chelsea are playing their best team and getting completely dominated. Imagine that before a big game.

  19. Keyser

    RR – Yeah, but at the moment he’s just trying to feed his little ponies, next year he’s going to milk his stallions, or something like that.

  20. karim

    Aguero 26 goals so far
    Negredo 23
    Dzeko 17

    How the hell didn t we land a striker, even on loan ?
    Just doesnt make any sense at all, only at Arsenal…

  21. hackneylad

    I want City to beat Barca I think if City beat Barca they still wont win the CL as Bayern are just a step above everyone else.

    If City progress in the CL they will tired in the league.

    We have seen how a few injuries effected City’s league aspirations so its obvious that all the competitions City are involved in will tire them out and they may drop points.

  22. Dissenter

    Jake,
    My point is if we play a second string team tomorrow and lose badly at home. That will set up a tense 4 day with negative press that might cause a second implosion.

    Liverpool will play their best team, they have no commitments midweek.

  23. Keyser

    What do you think about Mourinho calling you a failure specialist Arsene ?

    – Sorry, can’t speak, I’m a little hoarse.

  24. hackneylad

    Yaya is an outrageous player as his such a physical and athlete tic beast yet pulls of the most dainty precise technical skills at times such as his full range of pin point passing.

  25. MidwestGun

    Keyser,

    Hahaha ya I got called a smartass once too. Lol. But seriously, I thought we were pretty fluid and not ugly up till the Southhampton match. So I guess I expect better.

  26. Dissenter

    @Hackney
    Nawwww

    I want Barca to strip city naked and do all kinds of sadist acts on them.
    Barca to win controversially, both legs.
    It’ll be two nasty games, Neymer is returning today. There’ll be too much diving all game long.

  27. Bamford13

    City are clearly the best side in England. Not only are they best in terms of player quality and team chemistry/passing, but this game shows, I think, that they have the best manager.

    Pellegrini clearly learned from the recent loss to Chelsea, and this was his tactical response. He has destroyed Mourinho today.

    The only weakness I see in City is their tendency to be too relaxed or lazy when they don’t have the ball. It’s not that they are poor defensively, it’s that they can be a little over-confident, arrogant, lazy.

    Today shows, though, that they can defend as well as anyone when they want.

  28. Dissenter

    City’s loss to Chelsea was an anomaly. They had their two defensive midfielders injured that first game and had to play Dimichelis.
    Matic looked like a schoolboy against an elite DM.

  29. Dissenter

    @Rollen
    @Hackney

    I am not a betting man but I have to admit that Imhave wagered a bet on the Barca-City game.
    Barca have too many weapons. It’s hard enough to survive Messi, let alone Neymar.
    City would have had a real go but Aguero is out of the first leg.

  30. Jeff

    I can’t see how we’re supposed to beat both Chelsea and City in the coming weeks. It just doesn’t look remotely possible. Maybe we can hope for a draw against Chelsea but against City it looks extremely unlikely.

  31. Bamford13

    Who thinks we would’ve been better off keeping RVP and Nasri — paying them more, playing Nasri at CAM — than we are at present (with Ozil and Giroud)?

    I realize there are many, many factors that one has to weigh here, but just thought I’d ask.

    For me, we probably would’ve been better off keeping RVP and Nasri.

  32. Jon

    Clichy and Nasri were both quality. Wenger sold them both and replaced them with Gervinho and Santos. Get this idiot out of the club please.

  33. Norfolk

    Bamford13February 15, 2014 19:18:24
    Who thinks we would’ve been better off keeping RVP and Nasri — ”

    I do, you forgot to add Kolo & Clichy to that list.
    I only think it’s fair to discuss those players who are currently playing against us in our own league.

  34. Ines

    How great is to see Chelski beaten at every single aspect.
    Take that Maureen.
    Pellegrini well done, only one striker and stronger midfield.

    Now I’m getting nervous about tomorrow.
    We need to win or at least draw one of the next two cup games, as meaningless as they may turn out to be in the end.
    It is important for our momentum.
    I’m afraid to think what could happen if we lose both of them.

    I never expected Wenger to NOT try to win against United, so I’m pretty disillusioned.
    Even though I pretty much have in mind what can happen tomorrow, I will remain hopeful for some kind of respond from Wenger and players.

  35. Cesc Appeal

    WE

    It’s frightening just how messy that match against Munich could get, watching United all the chatter around me was about just how badly Munich would mangle the team we were watching.

  36. Dissenter

    @Wenger eagle
    How was Chelsea’s loss due to Mikel Obi?
    We fans are a funny bunch. We isolate certain players for ridicule.
    Every Chelsea coach has persisted with him since Mourhino’s first term, that says a lot about his quality. To survive that long in a crazy place like Chelsea says all about him. He’s a good player.

  37. WengerEagle

    Dissenter

    I’m not saying he’s responsible for the defeat the whole team were poor, I just think Mikel offers very little to be honest. Matic, Ramires and even David Luiz all offer more in that CM role in my eyes

  38. WengerEagle

    Norfolk

    Yeah agree with you on Dzeko, he’s a far superior finisher to Giroud and slightly more mobile but besides that is probably no better. Negredo’s a better player IMO

  39. hackneylad

    Norfolk

    Sadly for Dzeko that’s how his been all season missing countless sitters, his sitters have been even worse than Giroud because City are so good creatively his put through regularly in should of scored opportunities.

  40. Cesc Appeal

    I wish Fernandinho and Aguero were fully fit for Barca – I have serious loathing for them – I think a fully fit City 11 would destroy Barcelona.

  41. WengerEagle

    Cesc

    Just don’t see how it is humanly possible for us to beat Bayern over two legs without our two most athletic players in the team (Theo and Rambo).

    Bayern will kill us on the counter with Robben, Gotze and Muller

  42. hackneylad

    Wenger Eagle

    The Dzeko being a good finisher or clinical is a myth, his put through 5 to 6 times a game and misses.

    His got a penchant for knocking the ball into row z from what should be a tap in

  43. Dissenter

    @Wenger eagle
    If you’re looking for a DM who nice to the eyes, Mikel Obi in not the man for you.
    Makalele is probably considered one of the best DMs ever, yet his goals were rarer than the Haley’s comet. He did his work so efficiently that he went unnoticed at Madrid with all the galacticos.
    If Mikel wasn’t rated at Chelsea by all those world class coaches; Jose, Anchelotti etc. Chelsea would have gotten rid of him, they have no loyalty to anyone.
    Chelsea’s CL run won’t have happened without Mikel.
    Just my opinion.

  44. Norfolk

    WengerEagleFebruary 15, 2014 19:35:06
    NorfolkYeah agree with you on Dzeko, he’s a far superior finisher to Giroud and slightly more mobile but besides that is probably no better. Negredo’s a better player IMO”

    Negredo would be a better fit for us too.
    Shame because I liked Dzeko

  45. WengerEagle

    Cesc

    Wouldn’t be so sure mate, any team would struggle to contain a fit Lionel Messi and Neymar along with the likes of Pedro, Cesc and Iniesta. Messi alone is capable of destroying any team on his night

  46. WengerEagle

    Dale

    One problem with Robben on the left, the guy hasn’t got a right foot! He likes to cut inside and create chances and shoot rather than play on the left like a traditional winger and whip balls into the box

  47. MidwestGun

    Barca’s defense can be suspect. So I could see City scoring. But Messi is playing out of his skin right now. Hes in top form which is scary. Some of those dribbles in slow mo….. . Cant even describe.

  48. Cesc Appeal

    WE

    I hear you. Munich will hit us hard on the break.

    If Wilshere plays in the middle it will be a catastrophe, can see Schweinsteiger or Lahm/Martinez robbing him, or him falling over and then boom – before you know it they are at the defence.

    I don’t know whether Pep might go for Muller up top because of his pace, try and isolate Mertesacker and utilize Gotze passing ability to make a foot race between them.

  49. hackneylad

    I hate how the commentators suck off Mourinho

    CASE POINT

    ITV Commentator: Pelligrine doesn’t have the same Charisma as the charmisamtic Mourihno”

    Mourinho is charismatic in the way I want to beat him in the head with a log.

    I actually hate the sports media with a passion its obsessed with Mourihno because his a character the media loves brash rude uncivilized in your arrogant attention seeking personalities and then tries to act like that’s charisma.

  50. WengerEagle

    Dissenter

    You are entitled to your opinion mate, I just have never rated him as a player.

    He does seem to be highly rated by a lot of managers though that is true so I appreciate where you are coming from.

    In my eyes he is slow, technically poor, a bad passer and a reckless tackler.

  51. hackneylad

    Cesc Appeal

    We will play Arteta and Flamini in the middle because Wenger is past it.

    Wenger can’t see the wood through the trees.

    He either plays arteta and flamini which doesn’t work because it kills are attacking play.

    Or he plays jack and arteta which is asking the other side to score 3 or more goals.

  52. WengerEagle

    ‘I actually hate the sports media with a passion its obsessed with Mourihno because his a character the media loves brash rude uncivilized in your arrogant attention seeking personalities and then tries to act like that’s charisma.’

    THIS.

    S

  53. Mike adamski

    ” clichy was quality ”

    Never took to him . Gibbs over him any day .
    Clichy was a mistake waiting to happen , his crossing was rubbish – he was positionally bad for us too .
    Felt nothing when he left .

    Nasri though – total git but a quality player I wish we could’ve kept

  54. tunnygriffboy

    If we play a really weakened side tomorrow will it be used as an axcuse if we lose?

    Does anyone else feel that you can’t play Santi , Wilshere, Arteta and Ozil in the same team. Just not dynamic enough.

  55. WengerEagle

    ‘I actually hate the sports media with a passion its obsessed with Mourihno because his a character the media loves brash rude uncivilized in your arrogant attention seeking personalities and then tries to act like that’s charisma.’

    THIS.

    Spot on mate, it does my nut in too that the English media have this fascination for anyone that’s slightly ‘out of the ordinary’ so to speak. Basically anyone who’s not a mundane bore in football and talks differently is labelled as being ‘charismatic’. Idiots like Mourinho and Balotelli are judged as being characters rather than brats.

    Jurgen Klopp, Thierry Henry and Roy Keane are a few examples of football men with genuine charisma

  56. hackneylad

    Wenger Eagle

    When did it go so wrong? Lol celebrities/ famous people used to be known for their skills and at very least their charm.

    People like Geroge Clooney I see as charismatic.

    The Media loves Mourinho’s, Big brother reetards, fake tanned drunken steroid louts (Reality tv) and fake plastic bimbo’s. That’s charisma?? WTF is going on.

  57. hackneylad

    Wenger Eagle

    It’s all media they love characters because they get them more hits and clicks.

    They owe their debt of allegiance to Mourihno because when he says some idotic outrageous statement the media have dollar signs in their eyes.

  58. MidwestGun

    Not a Barca fan in the least, but as a football fan, love watching Messi. Actually, if City beat Barca wouldn’t be upset at all. On a completely different subject I am a fan of Shakira. Lol.

  59. kwik fit

    This front six could work against the pool;

    ””””’Flamini Rosicky

    Gnarby Ozil Podolski

    ……………..Ox

    Rosicky and Oz to provide the spark , and inventiveness with a front three of Gnarby Ox and Pod proving the pace, drive and finishing ability.

  60. Mike adamski

    The midfield balance is wrong yeah ..

    God we miss Ramsey and theo

    I’d play flamini ahead of arteta all day long
    But we should be aiming for higher than those two for a CDM.
    But will wenger get one ? Don’t hold your breath .

    What we could do with a petit / Gilberto type right now!!

  61. rollen

    Dissenter February 15, 2014 19:13:20

    @Rollen
    @Hackney

    I am not a betting man but I have to admit that Imhave wagered a bet on the Barca-City game.
    Barca have too many weapons. It’s hard enough to survive Messi, let alone Neymar.
    City would have had a real go but Aguero is out of the first leg.

    true that but City is way faster and stronger it can go both ways

    Cesc Appeal February 15, 2014 19:27:26

    Do not want a draw tomorrow, big no no to a replay.

    This

    This Messi gol good nothing special
    Assist from Cesc

  62. WengerEagle

    If we manage to beat Liverpool tomorrow we should just go for the F.A Cup. We’d be into the quarter final with City being the only side out of the rest still in the competition that would really be fully capable of knocking us out. Everton could be tricky as well if they beat Swansea.

    It’s vital we win something this season to get a winning mentality back into the club. Forget winning away matches against poor sides we should be beating or leading the league for half a season, the only way to instil a winning mentality back into this club is to win an actual trophy

  63. hackneylad

    Why is everyone talking about Neymar as if his Barca’s second best attacking talent?

    Sanchez is has been much better this season! After Ronaldo alexis Sanchez is the best wing player in the league.

    His assists and goals ratio is insane.