How Much Do The Arsenal Board Pay Themselves?

Arsenal directors come and go, sometimes going in disgrace and sometimes taking a fat profit with them. To their credit, they do continue to vote year after year not to take dividends on shares they own (which only applies to Stan these days, of course). But some do take more in ‘fees’ and ‘expenses’ than others, not to mention the few who are salaried employees.

Here’s a handy table showing how much the Arsenal Board have taken since 2004. I’ve seen people say Stan Kroenke takes a salary of £1m a year – he doesn’t; it’s not £25k a week, it’s £25k for the year. Ivan Gazidis became the first non-football employee to take a base salary of £1m plus in 2011, though Keith Edelman had broken the £1m barrier with his bonuses taken into consideration.

Lord Harris seems like a decent chap, as he consistently refuses to take any expenses. The club make a donation to charity of their ‘standard’ expenses amount instead. (Click to enlarge the graphic.)

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5 thoughts on “How Much Do The Arsenal Board Pay Themselves?

  1. Ken Friar took over £2m out of the club in the last three years!!!!!

    And why does a billionaire like Kroenke take anything?

    • Don–The cheeky answer to your question about Kroenke would be, “How do you think that he became a billionaire?”

      But, seriously, what is the point of spending a lot of money to buy or invest in a business (and, like it or not, AFC, like the other sports teams Kroenke owns are businesses), if you don’t expect to get some sort of return out of it? If your investment doesn’t pay dividends and you don’t make any money on the price of the stock you own going up until you sell it, you either have to sell some of your shares in the business or take a salary from it.

      I’m actually surprised that Kroenke is taking as small of a salary from Arsenal as he is–most owners of American sports teams take far more out of their teams (either in profits or salary) than that. I suspect that Kroenke probably is taking a fairly small salary from each of his sports teams and other businesses–which, in total, would amount to the kind of money that you would expect a billionaire to live on annually.

      Gazidis, on the other hand, is making what a CEO who is an employee of a business is paid these days (he’s actually making less than many CEOs of corporations are being paid in other businesses). While he probably is also making money from other sources, given his background and experience, he probably could be making far more as President of other companies (indeed, the board members of a company that I own stock in make nearly $500,000. per year (not counting perks and stock options) just for showing up 4 times a year for quarterly board meetings!)

      While you are looking at these numbers from the perspective of a fan of the club, expecting those who have money to work for or support the club for free because they have money and thinking of the players that the club could buy or pay with that money, you have to understand something: you don’t work at your job without getting paid and neither do they. These aren’t noblemen or lords who own or work for a club for the prestige of doing so because they have enough income from elsewhere and are fans, they are businessmen who still are looking to make enough money to live in the style and manner befitting their positions, even if they may be fans. There is a difference.

      As an Arsenal fan, I’m not defending them or saying that this is right or best for the club, but I do think that you have to recognize what the greater reality is and put things in perspective when you look at these numbers.

  2. No wonder Gazidis is the ‘Yes man’ of the century. He is never ever going to disagree with or challenge Kroenke. A recipe for lack of creativity. That board defines ‘Greymind’. It’s about as interesting as the ‘Knitting Society’. Better check all of them to see if Rigor Mortis has set in yet.

    • Really tempted to say a bloke in a pub told me, but actually I took it out of the published accounts. This demonstrates one advantage of Arsenal being a listed public company.

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