Arsenal accounts are out today – at least some of the detail is, we need to wait for the full glossy brochure to see all the fine detail, such as whether Stan Kroenke has trousered another £3m, or perhaps £5m this time just for variety. Anyway, while I wait for the postman to arrive tomorrow here is the usual table of how the cash balance is going.
Disappointingly for Roy Castle, Norris McWhirter and other people who like records, this year’s total is slightly lower than last year’s, just as the previous half-year figure was slightly lower than the previous year. Not enough to make a material difference, though. Arsenal have basically spent what they earned in the year to May, leaving cash in pretty much the same state – ie huge. Of course some has been spent since on summer transfers, but this season the huge extra TV contract kicks in. Arsene will need to keep the cheque book handy for January to stop the cash from jumping higher by next May.
You may have seen a cash figure of £191m quoted. This is because Arsenal have now started quoting cash after they’ve taken off the debt reserve of £35m. There’s no real reason to do this, they never used to, but it makes the cash look 15 per cent smaller and thus Ivan gets 15 per cent less flak from disgruntled fans (he hopes).
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They might want to think of ways to reduce that number soon. If it gets a little higher, it’s going to hit the 1/4 of a billion mark. That sounds like alot of dough, even to me.
All this tells me is that wenger has completed the academic side of his economics degrees, and over the past 10 seasons has proved not only to us supporters, but more importantly to his own ego, that he can run his own business ARSENE FC, Ps its a very lucrative concern.