Arsenal owner Stan Kroenke angers fans by taking £3m out of club

FFS, Kroenke out, Usmanov in.

Hope he gets forced and pressured to justify what exactly this £3 million is for. In precise detail, the services he provided so that it can compared to current market rates to check whether it's a fair rate.

It may turn out to be fully legitimate expense but it's always a dangerous path to go down, to use one of your other business interests to provide a "service" to another one - it's rife for exploitation and fraud. The Glazer's have been doing it for years at Man Utd with various, "management fees" billed to the club which are just a way to draw out money for their own private accounts.

Thankfully given the demographics of our club and the location, we do have the personnel among the fanbase to really delve into this issue and to bring the appropriate pressure to the boardroom if need be.

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Originally Posted by Niall_Quinn

I suppose this £3mill might also be connected in some way to FFP. There are a lot of weird and wonderful payments and counter-payments going on now that books have to be cooked balanced in light of the new regulations. £3mill is an odd amount for a guy who probably has that much lost down his sofa.

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Can't see how that's possible. The trick with FFP is to add spurious in-comings to your accounts to boost them artificially; see the Gypos with their ridiculous stadium naming rights and PSG with their inflated sponsorship deals (thankfully UEFA called them out on it).

Adding more expenses to your accounts and thereby reducing profits gives you less money to spend.

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Originally Posted by The Emirates Gallactico

Can't see how that's possible. The trick with FFP is to add spurious in-comings to your accounts to boost them artificially; see the Gypos with their ridiculous stadium naming rights and PSG with their inflated sponsorship deals (thankfully UEFA called them out on it).

Adding more expenses to your accounts and thereby reducing profits gives you less money to spend.

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UEFA called them out on it but only to give them a £50m net spending limit....oooo when most of there team has been done and a suspended fine and smaller CL squads which isn't really much deterant.

although mourinho moaning about it is a bit rich.... he wouldn't even be at Chelsea if they were supported totally by a billionaire... stupid prick.

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Originally Posted by Niall_Quinn

£3mill is an odd amount for a guy who probably has that much lost down his sofa.

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Rich men don't get that way by refusing any opportunity to steal your money.

They don't care whether it's death by a thousand cuts or chopping your balls clean off.

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Originally Posted by Niall_Quinn

£3mill is an odd amount for a guy who probably has that much lost down his sofa.

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Its £5 mill less than Wenger takes out & in relation to what their doing to this club - its a bargain.

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Originally Posted by Dein-machine

Its £5 mill less than Wenger takes out & in relation to what their doing to this club - its a bargain.

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They're completely different situations.

Wenger's actually providing a tangible service (management) and is rightfully getting a salary for it (whether or not it's too high is another debate).

Kroenke sits on his arse all day and doesn't provide anything to the club yet feels content with withdrawing 3 million out of the club for "consulting services". Until this gets cleared up (probably at the AGM) it looks dodgy as hell and just a mask to siphon money out. Kroenke shouldn't be withdrawing money out to get back his return - moreover the increase in value of his shares since purchase (probably already pocketed 200 + million) should account for that.

Now there's no questioning the legality of it, as principal shareholder and a board member he has the influence and power to direct the club to do what he wants, however it isn't a moral or sensible thing to do in the face of an increase in ticket prices and general unhappiness with the squad at the moment.

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Originally Posted by The Emirates Gallactico

They're completely different situations.

Wenger's actually providing a tangible service (management) and is rightfully getting a salary for it (whether or not it's too high is another debate).

Kroenke sits on his arse all day and doesn't provide anything to the club yet feels content with withdrawing 3 million out of the club for "consulting services". Until this gets cleared up (probably at the AGM) it looks dodgy as hell and just a mask to siphon money out. Kroenke shouldn't be withdrawing money out to get back his return - moreover the increase in value of his shares since purchase (probably already pocketed 200 + million) should account for that.

Now there's no questioning the legality of it, as principal shareholder and a board member he has the influence and power to direct the club to do what he wants, however it isn't a moral or sensible thing to do in the face of an increase in ticket prices and general unhappiness with the squad at the moment.

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I know - it was a bit of a tongue in cheek moment!
However, I would say that it could be argued that Wenger's tangible service to the club over the past few years had been more in line with "mis-management", but hey - I suppose he needs paying.

£3m? hardly on a scale of the glazers or the phones 4 u owners!

Looks like Stan has got a Goomar tucked away in a posh apartment in Mayfair!