The myth about Wenger deciding not to spend

[Rosco]

I think this interview with the Arsenal Chairman kinda puts it to bed.

The Arsenal chief executive, Ivan Gazidis, has emphasised that a takeover of the club is not imminent and that Arsène Wenger will have funds this summer to boost the playing staff.

Wenger is set to strengthen his squad with at least three additions and Gazidis said the cash will be there when the French manager requires it. Arsenal finished third in the Premier League after losing their way in the final weeks of the season but Wenger's desire to rebuild will be backed by the board.

"I am often asked what our financial resources are," Gazidis said. "Arsène has done a terrific job in managing responsibly through a period of dramatic change for the club and the English game.

"Arsenal have not had access to the deep pockets of a wealthy investor and we have focused on a path of independence underpinned by a sustainable business model for long-term success.

"With Highbury Square coming to completion and some of our other property developments bearing fruit, we're now coming to a period where the financial health of the club is secure. That does not mean we have unlimited resources but it does mean we have sufficient funds to invest.

"One or two players are coming to the end of their contracts, William Gallas for example. Whatever happens, Arsène has identified the fact the defence has been an issue for us this year so it's not difficult to imagine that that's an area we're focused on in this transfer window."

Wenger will be offered a contract extension and, although talks have not reached a detailed stage, Gazidis is confident the coach, whose deal expires next year, will commit himself to the club once more.

"I think everybody knows that the board has always backed Arsène and believes in him totally," he added. "Arsène in return has a great love for the club. There's no dimming in his desire and I've no doubt that we'll extend his contract but we'll do that very quietly and with the minimum of fuss. When it is appropriate to make an announcement we will do so."

Gazidis said a takeover was not imminent despite Stan Kroenke now being able to save £87m on any formal bid. Takeover rules dictate that once the 30% threshold is reached, a formal offer for all remaining shares must be made at the highest price paid in the previous 12 months.

That figure stood at £10,500 each after Kroenke bought a large chunk of shares from his fellow board member Danny Fiszman in May 2009 but that anniversary has now passed. It means the American, who holds a 29.9% stake, would be obliged to offer only £8,500 per share. Kroenke's decision to buy the St Louis Rams suggested no move was imminent and Gazidis said the club remains committed to its present business model.

"Although there have been some share purchases here or there and probably will be going forward, there's been no substantive change," said Gazidis, who answered questions at a meeting with the Arsenal Supporters' Trust last night.

"The club is very comfortable with its multi-ownership model. We have four major shareholders who embrace that model and are supportive of what we are trying to do. For the foreseeable future, the multi-ownership model is providing us with a great base from which to develop the club. The atmosphere has been very healthy – the manager and the board have been very closely aligned and that is a fruitful environment in which to make progress."

One of the interesting things about Arsenal is despite there being a lot more going on off the pitch there than there is at Liverpool, they manage to stay out of the limelight.

 

[Judge Jules]

If only we could somehow have inherited that boardroom rather than the one we got when Sir John Smith went. The last 20 years would have been totally different.

 

[themn]

[quote author=Judge Jules link=topic=40209.msg1103725#msg1103725 date=1273654089]
If only we could somehow have inherited that boardroom rather than the one we got when Sir John Smith went. The last 20 years would have been totally different.
[/quote]

Aye.

 

[Rosco]

Why do you both think that ?

Given Arsenal have had no funds for about 6 or seven years to spend, how do you think we'd have done in a similar situation ?

 

[themn]

[quote author=Rosco link=topic=40209.msg1103779#msg1103779 date=1273661705]
Why do you both think that ?

Given Arsenal have had no funds for about 6 or seven years to spend, how do you think we'd have done in a similar situation ?
[/quote]

Finished 3rd.

Instead of 7th.

Probably.

 

[Foxwold]

So with less money we'd of done better? i.e if we didn't buy Torres. Humm

 

[Squiggles]

[quote author=Foxwold link=topic=40209.msg1103955#msg1103955 date=1273676297]
So with less money we'd of done better? i.e if we didn't buy Torres. Humm

[/quote]

Yeah, that's it.

 

[themn]

[quote author=themn link=topic=40209.msg1103781#msg1103781 date=1273661976]
[quote author=Rosco link=topic=40209.msg1103779#msg1103779 date=1273661705]
Why do you both think that ?

Given Arsenal have had no funds for about 6 or seven years to spend, how do you think we'd have done in a similar situation ?
[/quote]

Finished 3rd.

Instead of 7th.

Probably.
[/quote]

Maybe ?

 

[Judge Jules]

[quote author=Rosco link=topic=40209.msg1103779#msg1103779 date=1273661705]
Why do you both think that ?

Given Arsenal have had no funds for about 6 or seven years to spend, how do you think we'd have done in a similar situation ?
[/quote]

Sir John gave up the chairmanship in 1992, a darn sight more than 6 or 7 years ago, and we'd have had competent businessmen running the club, instead of a failed one and a hard-working but over-conservative accountant who was a fish out of water in top-level club football.