Yes, there is a cash surplus of circa 50mil. And the "potential" 35mil profit on Queesland Terrace.
But;
i)50k a week eh. Lollers.The AST is always at pains to point out that a player coming in on a four year deal at £50k per week has a total contract cost of £10m in wages (£2.5m x 4yrs), and these future wages of net squad additions need to come from either savings when other players depart or cash reserves and/or the remaining £35m of expected property realisations. It is for this reason that the "resale value" of a player has often appeared as important to Arsenal as the day one impact the player has on the first team squad.
ii)The AST estimates that the cost to the club of failure to qualify for the Champions League is circa £45m in annual revenues
Stop reading the headlines for starters.
They are trying to assertain whether there are/were funds, or is the club being cautious, in the event that we don't qualify for the ECL.
Of more concern, and where Wenger is being criticised, is the wage bill. And rightly so. Why have we been paying shit players so much money is the argument.
Should Wenger be held to account for his "advice" regarding the rights issue? Sorry, but he can't tell them to rebuy their sodding shares. He may have advised it was not necessary, owing to the fact that we had Cesc, Nasri and plenty of other decent players who SHOULD have won us the league. Notwithstanding the fact that he has a duty to the club, and the board (his employers), and if he advised "yes, buy your shares back to give me money" and it fucked them over, he would be crucified. Not buy the fans, but by his own employers.
Wenger has failed to motivate his squad. He has, in some cases, been guilty of believing too much in some players. And he has perhaps taken a gamble on occassion, when he could have spent a little money bringing in a couple of sensible additions (assuming there was any money in the first place).
The financial position of this club is far more complicated that "he has 50 million to spend" and I wish people would read things properly.