We've never been "under" Wenger in terms of finances, he's the manager not the accountant or one of the directors. Under those bastards, we've made losses in the past but they key point is - they haven't. It's always been a bumper pay-day for those cunts, right up until they struck the mega-load. I could even live with that, but having the cunts hanging around telling the fans to fuck themselves is a little too much.
Für eure Sicherheit
This is what you need: http://www.arsenalreport.com/transfercentre/
Lists all our transfer spend back to 96-97.
In summary:
Emirates Era ~ Total £27,836,200
2011/2012 £12,388,200
2010/2011 -£8,914,000
2009/2010 £28,020,000
2008/2009 -£20,832,000
2007/2008 £17,640,000
2006/2007 -£466,000
Highbury Era ~ Total -£37,627,000
2005/2006 £395,000
2004/2005 -£3,936,000
2003/2004 -£15,046,000
2002/2003 -£2,210,000
2001/2002 -£18,976,000
2000/2001 £3,400,000
1999/2000 £8,630,000
1998/1999 -£9,780,000
1997/1998 -£1,064,000
1996/1997 £960,000
In short, yes we have made losses under Wenger, and no this has never been the case.
Wow...the tightening of the purse strings is quite clear from that.
But aside from transfer fees, the biggest problem for us is competing with other clubs on wages offered. Some people here are annoyed we didn't bid a bit more for Mata...like there's a chance in hell he'd pick us over Chelsea. If we were able to offer top wages, we'd be able to make the type of signings that Liverpool make (who are able to attract names such as Torres and Suarez).
This summer was horrendous though. We had an amazing opportunity to rip everything up and start again. A change of system and a change in style. If we had used the Cesc-Nasri-Clichy money properly we'd be in a much more promising position.
So we have made losses. But look at the early days. He was able to build a title winning side without spending much money. He earned his rep with the Board. In 10 years only a loss of £37m! This has always been the plan. We built te youth academy to support this plan. Oh well
Before the era of Ambramovich and billionaire owners, it was a different (much easier) ball game.
Also worth noting the £10m+ paid for someone like Henry at that time is very different than paying £10m for a player right now. Inflation in football teams has spiralled.