If this hasn't been posted before, please read. I suggest Letters should read it too and quit with the delusion that we've been poor and incapable of spending because of the incredible burden of a mortgage of 20m a year. Anything that interferes with his worldview of poor Wenger, hampered by the odds is made up.
http://swissramble.blogspot.co.uk/20...r-2-night.html
Last edited by Globalgunner; 09-04-2014 at 10:43 AM.
Got to agree about the stadium, we were told it wouldn't affect transfer funds and that "what would be the point of having a world class stadium without a world class team playing in it?", at no point were we told "oh listen we're going to build a big new shiny stadium so we can make lots of money, the only thing is there won't be any investment in the team and we won't have a chance of winning anything and we might have to sell all our best plays, bummer eh?".
The repayments were 20 odd million or so which were reasonable for a club of our size and which we should have been able to pay off without a problem, we did sell players but we also spent some of that money and I'm sure we could have spent more if we'd wanted to.
Why wouldn't the board members be thrilled with Wenger, from a business point of view things were rosy, money rolling in, a manager happy to keep spending to a minimum, if I owned a business and this happened I'd be over the moon. Problem is this isn't just some other business, it's a football club where people fork out huge amounts to support their club only to be rewarded with 4th place and be told it's a "major trophy" and you should think yourselves lucky.
Last edited by Özim; 09-04-2014 at 12:08 PM.
Hypersonic inflation in football caused by huge amounts of cash being dumped, a Great Depression style financial crash and the property market sliding into the shitter probably changed the equations a bit. Or entirely.
Für eure Sicherheit
That didn't change our repayments, nor did it affect football attendances.
As for the property crash, there was some impact but we seem to sell all of our properties, in addition London wasn't affected in the same way, it's in its own bubble where there's so many rich people wanting to buy prices just get driven up further and further.
Undoubtedly, even without these factors the old guard knew that the stadium project was going to leave us brassic in the short term. The property collapse meant that the expected revenues from the Highbury square project never materialised. You can pretty much understand in retrospect David Deins outspoken reluctance to move away from Highbury. Even before the rise of the oligarchs it's abundantly clear that the vast amount of money a club generates is not from gate receipts so the Emirates move has not exactly done much for us in terms of finances.Originally Posted by Niall_Quinn
There was NO major property collapse in London. Those with money not trusting the banks to gain any returns from investment during recession/low interest periods would look to property/buy to let markets for investment. The new build properties in London ( depending on area ) continued to thrive during your so called property collapse.
In light of this season, I’m sure Wenger had money to spend in the past but chose not to spend. Ozil was a massive signing this year but it’s never been beyond us to spend money on one star player and look for the odd bargain.
I'm less and less convinced the money is there, this 120million in reserves is probably being kept to guarantee the players wages in the result of finishing outside the top four. In last years we have posted pre tax profits, and in the one summer where we haven't made a profit in the transfer market we make a loss. I am beginning to think the operational running costs wipe out any money we make as a club, of course Wenger and the club are to blame for tieing down average players to large contracts that a club of our size simply cannot afford, and in fact a club that is anyway self sustaining can't afford.
Also what does 120m buy you? Well if you sign a player for 43million like Ozil and pay him around 150k a week for five years that's two thirds of that money wiped out.
I think Wenger should have done better with the players he has or spent the money he has more wisely but we cannot waste 250m over three years like a Liverpool because we don't have a financial benefactor.
No - if you look at our cash reserves & interest/payments on the stadium over this period, none of what you mentioned has had any effect on our ability to spend. Its all relevant, you pay an extra £10 mill for Suaraz because of inflated price on previous year, you score more goals, you finish higher, you win something - you earn £10 mill more from TV/C.L. rights than you would have done the year before. The lower interest rates that always follow recession have helped us not hindered us. Read the financial report shown in the post from globalgooner regarding our finances.
I have never said that. Please stop making up things.
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