Arsenal finances dropped and I have no time to analyse, needless to say, it was not a great year. Our wages topped out at nearly £240m, our players sales were pitiful, and covid left us with one of the most painful losses in Europe this season (£127m)
Arsenal’s 2020/21 financial results covered a season when they finished 8th in the Premier League and reached the Europa League semi-finals under head coach Mikel Arteta, but their finances were adversely impacted by COVID-19. Some thoughts follow #AFC
— Swiss Ramble (@SwissRamble) March 1, 2022
Some interesting snippets?
KSE took over the loan from Barclays and didn’t call it in. That means it’s their money that they are putting in, though it is essentially only relevant if there is a next owner.
This is particularly pertinent as Chelsea’s owner is under some stress because all his, you know, direct ties to a nutcase dictator. The football angle is Chelsea might be tough to own moving forward, the Arsenal loan segue is that if Abramovich sells, he’ll expect the £1.5b in loans he gave the club to come back to him. Quite a steep ask, wouldn’t you say? I don’t think KSE giving Arsenal loans matters in the grand scheme of things, they have the fanciest stadium in the world, and the 2nd biggest collection of clubs… it only matters if they sell.
The next thing that was interesting to me was the Arsenal have accrued the 3rd highest player sales over 6 years. Ain’t that mad? VERY MAD. All I can remember is Iwobi? £213m seems high. What is going on here?
The number the AST will be looking at is the 55% increase in broadcast revenue to £184m. I think they have every right to ask ‘why are you putting season ticket prices up?’
The worrying trend is that we’re now 6th for revenue in the league. £40m below Spurs. £150m behind the big three in the league. That is striking. It also tells you why Vinai will bend over for dodgy crypto products like Socios. This is part of an issue a decade in the making, that I wrote about extensively. If the product you are selling is football, and the football doesn’t deliver big trophies, sponsors won’t buy into it.
What ‘story’ were Arsenal selling over the last decade?
‘Top 4 supremacy, no chance of competing, Mustafi with the BIG slide tackle’
Arsenal now HAS a story worth selling. I really hope the commercial folk at Arsenal lean in hard with sponsors. Arsenal is the most exciting project in Europe right now. Young players SELL sponsors. Young innovative coaches that has high standards is a selling point. Progress up the table SELLS. Add that all into the mixer with LONDON as the backdrop and your start to get into a sexy position.
At a base level, what is our next Amazon deal going to look like if we make CL? That is some blockbuster TV right there. The Arsenal story this season, so far, is going to look very good.
Arsenal need to strike while the focus is there, we’re not selling top 4 mediocrity now, we’re selling a young team that is going back to the top. Arsenal need to make the sales guys work for their bonuses, which can’t be high, because clearly they aren’t doing that well.
This little graphic is doing the rounds on Reddit.
England is incredibly tribal when it comes to football. You are raised on football as a point of pride. You inherently dislike certain fans, you have disgust for certain clubs, you don’t like certain players. You are CONSTANTLY having your views of the game influenced by those around you. The idea that the birthplace make-up of these refs doesn’t feed into the ‘unconscious’ bias is laughable.
There are deeper bias issues that go on. The worst is hierarchical. An example of this in action is PGMOL apologizing to Frank Lampard, second generation football establishment royalty, complaining about a handball. Did Arteta get that treatment for worse decisions? No.
The whole institution needs to be ripped down. There are no redeeming features.
Arteta also needs to learn how to bully the refs. Politeness doesn’t work. Dopes only respond to aggression. Frank Lampard went aggressive and he landed a phone call and he’ll probably get nice decisions going forward. Arteta could learn something there.
More charts?
Arsenal creating chances through… the middle?
Amazing what a few choice signings can do for how balances the side it. We actively seemed to avoid the middle of the park last season, donut football… we were one of the worst teams in the league through the middle.
The progress is real…
Right, that’s me done. Put down everything you are doing and listen to the podcast.
Bankz is here for the tr4phy again
Let’s do this!!!
3rd
(((BOOOOM))))
Clean sweep
Hey Banks….. lonely at the top?
Lol.
Very lonely.
DM and groovey don’t offer the competition they used to, anymore.
Welldone Banks. Came early but had to read through the post.
All the financials means to me.. as a fan is we are no longer on a self sustaining model.. Up to Kroenke Now. Hopefully he will come through.. as him selling the team now just got harder for a legitimate offer to come in that would cover his loan investments and what he thinks the net worth of the team is. currently..
That offer by EK last summer was not even close, in my opinion, bordering on a joke offer. 3 bills might not even get it done.
Midwest, you are right, I know someone who was close to that whole Ek thing and he didn’t have a clue.
Bankz- I really don’t get why you seem to get off on being the first to post. You presumably don’t read the post and you must spend God knows how much time just logging in to check for new posts
Why?
The Ek offer would have been highly leveraged and been disastrous for Arsenal. I genuinely believe Kroenke looks AG his clubs as a legacy he will leave his heirs
Would love to know how he generates his cash
Midwest Yes, I think you’re right. However this snapshot from Swiss Ramble puts some perspective on the numbers:- 1. 2021 loss was clearly driven by COVID, but significant investment in the squad also played a part. 2. £127m loss is not great, but there are some positive signs. Match day income should return to pre-pandemic levels, the wage bill will fall after many high profile departures and there will be no repeat of once-off debt refinancing (which will lower interest payments). 3. As matches were played without fans ARSENAL lost a key revenue stream, putting them at a big disadvantage… Read more »
Northbanker-
I don’t know the details of Stan’s personal balance sheet. But I do know he owns 60 million square miles of real estate that he charges Walmart to sit on. So lease money. That has to generate a lot of cash.. Plus he owns a ginormous amount of beef cattle. The price of beef is astronomical right now.
NorthbankerMarch 1, 2022 21:12:24
Bankz- I really don’t get why you seem to get off on being the first to post. You presumably don’t read the post and you must spend God knows how much time just logging in to check for new posts
Why?
Was just going to post this very comment, he contributes nothing to the blog other than ‘first…second….’
Midwest
The price of everything is astronomical…!!!. My energy bill has gone up from £85.00 per month to £230 this month in around 3 years!! We’re sucking mints to keep warm…!
Middlesbrough should have won this. Two headers that should have been buried. Conte is looking a worried man.
AFCF
Thoughts on Balogun?
I don’t have a problem with them raising prices. A seven year freeze was much appreciated, but at some point it neeeed to happen, and they are facing the same rising prices that we are. They are investing in the squad, and the stadium, and They’re not comply pocketing it – it feels like it’s being reinvested. I want us to compete, and I want us to return to sustainability, so all good with me. I also like the new policy around youngsters. It’s important we nurture the future fan base and I’m glad they’ve recognised that.
Lol spuds goal down
Major Jeneral
He has a good touch and awareness but you can see he’s still learning. He’s still got a bit to do but that’s to be expected. What about you?
From April of 2021 (it’s probably a bit lower now)
Forbes’ Business of Soccer list
1. Barcelona – $4.76billion (£3.46bn)
2. Real Madrid – $4.75billion (£3.46bn)
3. Bayern Munich – $4.22billion (£3.07bn)
4. Manchester United – $4.2billion (£3.06bn)
5. Liverpool – $4.1billion (£2.98bn)
6. Manchester City – $4billion (£2.91bn)
7. Chelsea – $3.2billion (£2.33bn)
8. Arsenal – $2.8billion (£2.04bn)
9. Paris Saint-Germain – $2.5billion (£1.82bn)
10. Tottenham Hotspur – $2.3billion (£1.67bn)
Spursy
Spurs doing well
Some of their shots have been comical
Loving it
The gift that keeps on giving…..
“AFC Forever
He has a good touch and awareness but you can see he’s still learning. He’s still got a bit to do but that’s to be expected. What about you?
”
I could not agree more. The teething period is difficult but it is part of the process. As long as he is determined and willing to improve, he will come good.
Conte is so transparent on the side lines lol
He’s off at earliest opportunity
What an utter shit show (great show for gooners)
Ha ha fuckin’ Spurs!!!
Spurs out.
Conte the ‘world class manager’ loses again. 32 years and still counting.
5119 days without a trophy (And counting)
I wanted them to win actually so they had more games as they’re shit and wouldn’t win it any way
Spursday is no longer it’s now jewsday
Cue the press conference. Should be comedy gold…
I have no idea how Harry Winks has International caps. He’s such a limited player.
Pedro if you look at the full table you include on your Twitter feed – 120 million (so over half) of the sales were in a single season 2017/8
That year we sold (among others)
The Ox
Szczęsny
Gibbs
Walcott
Coquelin
Gibbs
Giroud
Toral
We also swapped Sanchez but not sure if that is given a value
Kieran Gibbs plus Jon Toral alone made around 10 million which is close to our total sales in 20/21
Oh Spurs, you beauty
2 hours spurs running around and lose anyway.
Rich… but Conte, Kane, and Son are sooooo elite?
Spurs are utter shite.
When you look at the Arsenal finances it becomes very apparent that Project Youth 2.0 was driven by the Kroenkes and KSE looking to drive down wage costs and not by the footballing philosophy/vision of Edu and Le Grove’s Jesus (aka Arteta).
What we have over here at Arsenal is the happy marriage between an owner who doesn’t want to pay for anyone over 25 and a manager who can’t man manage any player over 25, because, who knew? successful established footballers have dogs.
Words, what you have is a great strategy being executed by one of the best young coaches in world football.
You gotta suck up those facts at some point.
Pedro
You have to give Stan credit for his work on the training pitch. He has also been smart with his identification of players. Quite the owner, he can do everything.
https://www.youtube.com/watch?v=p8ko43-OCAQ
Pedro,
Sure, a great strategy, but one devised by the Kroenkes.
If Arteta executes it well, and we get top4, well and good.
If we get top6, the Kroenkes will probably give him one more chance.
Otherwise he’s off.
By the way, the previous post should say successful football players have egos (not dogs!!!)
Hahahaha words I read that and was like yep I’m sure that some do have puppy dogs.
Only negative from me today is maaaaaan oh man one game a week is boring as
Great stuff from Spurs. They really help getting me through the downtime between our games.
The finances aren’t surprising. It could have been worse. But it also shows why we need to get that CL spot. Fans will buy in on a young exciting team. Sponsors couldn’t give a shit. You just need to look at the billboards at an average airport terminal to see what they’re paying for. We need success to stay competitive.
Invincible’s, thanks for putting me right. My memory isn’t what it used to be and Google wasn’t helpful. I have this memory of me walking out on a cold, windy Sunday Morning football pitch having just got back from Europe, and us being 13 points behind at around Xmas. That’s where it goes blank other than it was before 1990 and my subsequent heart attack resulting in bypass surgery that year. It was the year after I hung my boots up at 34 because of work commitments and not keeping as fit as I should/needed to have done. Herb and… Read more »
Tony thanks for confirming you don’t have a fucking clue what you’re talking about….admitting even Google didn’t help you.
In your case less is definitely more.
Tony
Sorry big no to Super League , UEFA can scrap Champions League and start one but it has to be on merit . The beauty and joy of watching football is that its unexpected and unpredictable . If you make it predictable it becomes boring . Super League by its very idea is boring .
The absolute joy is to watch teams like Middlesborough beat Spurs . The grind has to be respected , look at West Ham playing Sevilla in Europa League and the possibilty of drawing Barcelona . West Ham , a team that was struggling to avoid relegation .
“UEFA can scrap Champions League and start one but it has to be on merit”
Did I say I didn’t, Divine? Merit, fairness and full transparency is essential.
A super league teams can still be involved their own country FA & League cups.
Please lets not play the victim here. I tend to ackknowledge, that we get what we deserve in
the end.Focus on every game and the opposition weaknesses and we are sailing.
How appropriate that Tottenham got battered on pancake day.
Arsenal’s transfer policies are not significantly different from those of Liverpool both in the
past or for that matter in the present.
Liverpool were always very good in their recruitment of players from lower leagues and less
fashionable clubs. Another feature of their transfer policy was the “profiling” of players by
looking at their family backgrounds.
Arsenal also followed similar policies in the 1980 and 1990s with the recruitment of players
from unfashionable clubs such as Winterburn, Dixon and Bould.
You can add David Seaman to the list of players who arrived from unfashionable clubs. He
joined us from QPR the year that they got relegated.
So our entire defence of that generation when you factor in Tony Adams who came through
the Academy gave us 10-15 years service.
Tony the only season I can think of is George Graham’s first season – we were 7 points clear for around a day just after Christmas and 4 points in the New Year including after the first of our three “one nil down, two one up” (remember that fanzine!) at White Hart Lane. It was a bit unsustainable to be honest – we had a cobbled together squad with Martin Hayes as top scorer and completely collapsed. Everton won the league and we were 4th. It was a very positive season though as we went on to win the League… Read more »
I by no means support the idea of a Super League because of what it means to the small clubs like Leicesters, Andelerlects, Young Boys and the Spurs and the needed revenue it brings for them. But the commercial viability of a Super League makes sence. During a group stage of a Champions League there are 128 matches played. But how many of those matches are commercially sustainable or bring substantial revenue, when you consider Rapid Vienna will play Malmö or Spurs will play Young Boys. How much do you thing everyone makes off of the small fixtures like that.… Read more »
8 should say 80 million plus sponsors per season****
James
It will get boring fast enough when you see Arsenal go to PSG for nth number of times only to lose 3 nil . What keeps the PremierLeague fresh and compettive is that you have to go to every ground and be on the money to beat the teams . I give equal importance to Arsenal Watford as Arsenal Chelsea . Every game is important , revise the CL format sure , dont create another breakaway league just to clear the doping clubs debt.
It would be decent if instead of groups and knockouts, everyone that gets cl spots in the leagues, gets into the super league that is actually a league rather than a knockout. Everyone plays everyone twice. If you wanted to add a knockout/finals stage, make it so the top 4 or 6 teams go through, with the top 2 getting a week off or something and play the winners of 3-6.
That’s how I’d prefer it if it came to that.
European super league run by Clubs is coming, like it or not. Why? The major clubs cannot survive financially without it – aside from PSG, City, Newcastle, etc – and who wants that?
And of course PSG did not join the proposed ESL and Chelsea and Man City were lukewarm and the first to bail out – they all knew it would even things up.
I completely agree with you Divine. As I said I’m against it but unfortunately all the company’s and conglomerates who fund the champions League will demand it at some point.
It’s sad but it’s the truth
What did everyone make of Contes tactics last night? Sitting back trying to hit Boro on the counter. Understandable against City but you’d think he could have come up with something different against a championship side. If that was Arteta he would get slaughtered and rightly so.
The world is a small place these days. Global markets are more easily available, which makes the PPV so lucrative. If there were 18 teams and say 6 were relegated each season, I doubt if it would get boring. The billions generated should be divided up with a substantial part of the income (billions) to go to the lower leagues of the clubs participating, which would give those clubs a fighting chance to qualify for a relegated place left vacant. There should also be funs available for poorer countries to develop. Providing the wealth is not just sucked into the… Read more »
Mike Riley has officially apologised to Everton for the handball error at the weekend. This just rubs salt into the wounds of every Arsenal fan that has witnessed countless wrong decisions given against Arsenal this season and for the last 18 years. Why we never kicked up a stink who knows , and now it will seem like we are jumping on the bandwagon by demanding apologies for every decision that has gone against us. Untold Arsenal had it right all along and they have been endlessly ridiculed on Le Grove. Everything we are hearing about now regarding Riley’s, mob… Read more »
I’m not in agreement of the Europa conference league.
Imo , the CL should be restricted to the champions of each domestic league and maybe the runners up.
The Europa League should be for teams finishing 3-5
The Europa Cup Winners Cup should be for those teams winning their domestic cups plus team’s finishing 6th in their leagues.
It seems that UEFA want as many teams to experience European competition but at the expense of quality and genuine competition.
Pierre
Arsenal have always been slow to act.
As for Riley, he needs to held accountable and changes made to the way VAR is operated.
I still get angry thinking of the OT debacle.
Guendouzi has completed his permantent deal with Marseillle. Fabrizio Romano
Graham “Imo , the CL should be restricted to the champions of each domestic league and maybe the runners up.” I actually think that by having the top 4 qualifying for the champions league creates interest and excitement for many fans . Take this season , If it were only league winners and runners up , the season would be as good as over domestically for teams like Arsenal, tottenham, west ham , wolves and even Chelsea , as the top 2 places are as good as done and dusted. I like the interest and excitement that qualifying for champions… Read more »
Should Everton not have demanded an apology for the referee not sending off one of their own players (Godfrey) for deliberately raking his studs down Tomiyasu’s face, or does it only work one way, or the over the top tackle leg breaking tackle on Tavares in the same game.
What has happened is Riley has reacted to media pressure , something there will never be when Arsenal are wronged by the officials.
Maybe Arsenal need to learn some lessons in how to kick up a stink when these type of decisions go against us.
Chelsea are in fir a shocker
Abrahmovich is selling in a hurry and the core of their defense is walking away in free transfers.
Let’s see how they do when a new owner that doesn’t treat it as a plaything comes on board.
I may be the only one, but from memory I don’t feel like there was any intent from Godfrey. In my opinion I thought it was accidental.
There has been way worse decisions against us than that one.
Saka getting absolutely hacked is the prime example.
Hahaha yeah the chavs are in for it. Going to be brilliant to see play out.
Goobergooner
‘accidental’ dangerous play of that magnitude is still.a red card
Referees are not supposed to use intent because they have no way of figuring that out.
Sagg
For the princely sum of £9M. Mavropanos to Stuttgart for £2.8M. The two purchasers are laughing at AFC’s expense.
Goobergooner
“I may be the only one, but from memory I don’t feel like there was any intent from Godfrey. In my opinion I thought it was accidental.”
100% intentional , he knew exactly what he was doing
https://youtu.be/2IFARxz4MwE
Sorry boys. PGMOL is my favourite subject. PGMOL is an organisation that fails to mitigate risk and implement a robust system of accountability. This makes it not fit for prupose. Ex-members of PGMOL, including Halsey, Poll and former head honcho himself, Keith Hackett, have been warning Riley for years. The geographical situation and the lack of accountability are serious issues he keeps ignoring. They all call him incompetent, he’s not a popular man. I was at a football event that discussed this quite a few years ago, it was to do with YoutheRef. Hackett gave a speech and explained where… Read more »
Roman liquidating all his London assets in a hurry, Chelsea included, is probably a bad news for Ukraine and its people.
His supposed involvement in brokering peace talks between Russia and Ukraine and his close connection to Putin, however forceful his denials, makes him the ultimate insider with solid knowledge of what Putin’s intentions are.
Gooner.
The same was said about Man City when their owner Thaksin Shinawatra, was the subject of sanctions and had to sell and low and behold they were bought out by , well a country and from that point on things changed massively for them
Let’s just see how the Chelsea thing plays out because the likelihood is that RA will be able to sell and walk away and as to who buys , which someone will if he indeed sells, will be looking to make money one way or another and that won’t be by starving then of cash
Invincibles,
Yeah we were paid £30m for Sanchez and in return we paid £30m for Mkhitaryan. So it should still show up in the player sales.
I thought we weren’t very good at selling back then but now?! No comment😷
Does look like curtains for this era of Chelsea’s history. With the Russian gone and maybe the woman who runs the show it’ll be a while before they’re back as a force. Whatever Abramovitch is to Putin he has been one hell of an owner. He sets the tone, the culture and puts in the money.
Abramovich must know that sanctions are gonna happen otherwise he wouldnt have pulled that stunt of passing the ownership of the club . Safe to say we dodged a mighty bullet with Alisher Usmanov
Well the chickens have finally come home to roost.Abramovich is jumping ship & looking for top dosh £4 billion to be exact.No chance Jose! Wants his loan of £2 Billback as well.Chavs don’t have the money.The stadium does not generate enough money & a rebuild would cost around a furthe £3/4 billion.Approaching Sofi stadium costs of Stans LA venture.They can’t move anywhere else in west London.& the ground is leased by CPO .A non profit entity.
They are f*** d?
AFC forever.Keith Hackett right. & so it begins.
Abramovoch and Chelsea might be lucky. Hope not. Fordstam (Abramovich) are owed just short of £2 BILLION by Chelsea – so that is what it cost to buy Chelsea some history with money stolen from the Russian people. He wants it back now. With calls in Parliament yesterday to seize Chelsea, Roman’s lawyers have acted swiftly. I really do hope they stop this sale going through and they are made to function like any normal football club for a change. If they do get sold, let’s make sure it isn’t to another oil or terror state. We should take a… Read more »
Pete
Yes mate. Could be a good year for football and Arsenal. Chelsea and PGMOL both getting fixed. Here’s hoping.
Tom,
For all his links to Putin, isn’t Abramovich more of an Israeli citizen these days?
The newspapers are reporting that he’s selling a London property portfolio of at least £200 million. I remember when his VISA issues began in 2018. His London portfolio was worth a lot more than the above figure, so he must have already started some of his assets between 2018-2022.
I expect Rick and the rest of MI6 have tabs on RA’s wealth trail. .
“Our wages topped out at nearly £240m”
Pedro, a few days ago you posted a graphic showing our wage bill down to ~87m … can you explain the discrepancy between that graphic which you lauded and this statement above? Thanks …
Clubs should be run on club’s money. As much as I’m excited to see Kroenke’s money buying us players, we gonna go in the same death spiral Chelsea’s are in. 2 fucking billions to the owner, can you fucking believe it?
What you earn is what you spend. Keep it simple.
The idea a room full of drippy career bureaucrats are going to fix the standard of refereeing, seems extremely far fetched to me. There’s literally no problem that they couldn’t make worse. Remember the initiative that if the ball strikes the hand, then it was a penalty? I think that lasted 4-5 games, then they realised how ridiculous that was, and changed it They decided that a team needed 13 outfield players + 1 goalkeeper to postpone a game, then decided to change it Which wasn’t fair on both counts, because some teams had benefitted, others had lost out, if… Read more »
The baying mob. Financial year vs current year.
I hear Romero “better than Ben White” got roasted yesterday.
The list of ridiculous pronouncements from last summer gets better and betrer.
And can we leave bankz alone. He isn’t hurting anybody. It’s just kind of a little tradition here.
And he does occasionally post fair opinions.
Nigel T = Inspector Plod
Steg
The baying mob. Financial year vs current year.
AST are suggesting that the current years wage will be between £225-£250 million in the current year.