Arsenal fans furious after club reveals financial results!

27/02/2013 no comments »
Arsenal fans furious after club reveals financial results!

Arsenal fans furious about their club after financial results have been announced on Monday and shows that the club sits on a cash reserve of £123.3 million.

Arsene Wenger has been under pressure in the past weeks and his philosophy to develop players instead of signing experienced world class players faces increasing criticism. Arsenal hasn’t won a trophy in over 6 years and fails to compete with Manchester United, Manchester City and Chelsea.

In the past, Arsenal qualified for the Champions League every year which is Arsene Wenger’s lifeline. The club relies on that revenue. However, at the moment, Arsenal is 5th in the table and Wenger’s approach will be questioned if he fails to qualify.

Arsenal’s revenue was mainly driven by £42.5 million of player sales, but also have invested £40.9 million in signing new players such as Lukas Podolski, Santi Cazorla and Olivier Giroud – and the extension of contracts for existing players. Arsenal has extended contracts for Jack Wilshere, Theo Walcott, Kieran Gibbs, Aaron Ramsey, Alex Oxlade-Chamberlain and Carl Jenkinson.

The Emirates sponsorship is also crucial for the club as it bring up to £150 million. This comes in addition to deals with Airtel and Malta Guinness and additional sponsorship linked to the pre-season tour.

Chairman Peter Hill-Wood said: “Our desire is to make everyone connected with Arsenal proud of the Club. We know that comes through winning trophies but also through the way we do things and that will remain our constant guide.”

It remains to be seen if Arsenal will invest heavily into new player for the next season. However, if they want to compete for a trophy it will be more than necessary.

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