[Archived] Arsenal's Bit Of Bother

[philipl]

Robert Peston looks at Arsenal's money issues

Arsenal pulled together an extremely sensible package for the Emirates stadium and one which other things being equal would have made them the financial and footballing giants of the 2010s.

It was in many ways too good- low interest rates, vast property profits, Wenger's nursery- and made them complacent.

The wheels are coming off:

- the killer is the now five plus years battle for control, first resisting an American who saw the same opportunities at Arsenal as the Glazers and Hick/Gillett saw in the north (to use the inherent strength of the club against itself and get the action for free), and most recently avoiding a less unsavoury footballing fate- becoming an olygarch's toy.

- that scrap means they cannot recapitalise the club with new shares which it desperately needs, because

- the club gambled on getting the maximum value from the property development at Highbury and are now selling into a far worse market than they ever imagined

- and their careful management of costs and investments on the football side are not paying off either

- Citeh are blatantly buying Adebayor just to screw their most vulnerable rivals in the Big 4 in my opinion, and

- with not too many exceptions, that nursery of highly expensive wunderkind are no more capable of adapting from the FA Youth Cup and Premier Reserve League South than Rovers' Academy products are

[daveoftherovers]

Yes, the best laid plans and all that...

Couldn't happen to a nicer club for me, any club that conducts itself as they have in recent times, on and off the field, deserves the equilibrium that naturally follows.

It starts with prospecting with your assets, you enter a war of ego's, you look down your nose at others, you rip your true fan base off, then , the very clubs you have been looking down your nose at for so long, start to overtake you and settle old scores!

Hughsie must be enjoying that element of his job!

They will have to win the CL this year to qualify next year IMHO, this will then hurt their revenue significantly.

[gumboots]

Only thing is adebayor's not that good and I reckon with Arsene Wenger's reputation he could just tempt a decent striker to come in and score more for them than adebayor would if he'd had his head turned by megabucks City.

[T4E]

Can't see how Citeh are screwing Arsenal by signing Adebayor. He's not worth £25m, and Wenger will likely reinvest that money very very wisely.

I'm expecting Arsenal to finish comfortably above Citeh next season.

[alexanders]

It may look like he is using City to get another move:

7.12 Reports in most of the morning newspapers claim Arsenal striker Emmanuel Adebayor is stalling on a move to Manchester City. He has been granted a work permit, but is apparently waiting to see if any other clubs show an interest. Will it be a long wait?

[Hughesy]

"5) Perhaps most germanely of all, it fears that redevelopment of Arsenal's former Highbury stadium into luxury apartments may not turn out to be profitable - and that refinancing £140m of property-related debt over the next couple of years will be neither cheap or easy"

I thought they had sold most of these appartments/ flats early on?!

[gumboots]

It may look like he is using City to get another move:

7.12 Reports in most of the morning newspapers claim Arsenal striker Emmanuel Adebayor is stalling on a move to Manchester City. He has been granted a work permit, but is apparently waiting to see if any other clubs show an interest. Will it be a long wait?

Well, it's man Utd he's after apparently

[DE.]

Ade isn't worth 25M ... if Arsenal get that for him then it's good business for them. I think Arsenal's biggest problem could be keeping their star players, especially if they continue to go without trophies. Losing 4th spot would be a bad blow, one they narrowly avoided this year thanks to Villa's capitulation towards the end.

[LeftWinger]

If RSC is worth 18m, then I think Adebayor is worth 25m.

He’s three years younger and has a better scoring record.

[joey_big_nose]

"5) Perhaps most germanely of all, it fears that redevelopment of Arsenal's former Highbury stadium into luxury apartments may not turn out to be profitable - and that refinancing £140m of property-related debt over the next couple of years will be neither cheap or easy"

I thought they had sold most of these appartments/ flats early on?!

Its a funny place as the stadium is actually not in that nice a part of North London. A mile down the road at Highbury and Islington/Barnsbury and they would be worth gazillions, but the flats are stuck up in North Highbury towards Finsbury Park next to Holloway Road which, while not grim, is not really very attractive for anyone who wants to buy a "luxury apartment".

I suppose Arsenal were banking on the sort of mass gentrification that has happend in various London places, but it hasn't occurred to the extent required. If you walk round Blackhorse Road or Holloway road there are only a couple of mid class restaurants and pubs and no high class places.

I met someone at a party who is renting a flat in the Stadium. About £300 a week for a two bed which (by London standards!) is pretty cheap...

[Blue n White Rover]

Every year we talk about someone breaking into the top 4. Last year Villa got close and they bottled it, same with Spurs a couple of seasons back (they literally sh** their pants). Arsenal always somehow manage to stay in the top 4, they have enough quality with players such as Fabregas that drive them through. When Fabregas isn't on the field, they have other players who step up to the challenge and deliever.

City don't have players like Walcott, Fabregas, Sagna, Van Persie and Arshavin. With these players they could easily produce a bit of magic out of nothing. City don't have many of those players. That's why I don't see the finishing in the top 4.