Stan Stan the BurgerVan Man!
Saturday, 20 September 08, 03:42 AM · Comments(0)
Bad news everyone: the Large Hadron Collider is broken! So no early proton smashing next week. But, the engineers are taking a butchers this afternoon, and expect to have a prognosis by the end of the weekend. Let's hope it's more of a Nasri than a Rosicky!
Do not be alarmed, Mr Wenger and Big Red Al haven’t become good friends, rather, they were speaking together as guests of honour at a dinner for the League Managers' Association Benevolent Trust and Fund. According to Mr Wenger their oft fractious relationship has improved:
“There is a much better understanding and mutual respect now" said Mr Wenger.
"We've sat and shared a glass of wine and a meal on many occasions on coaching conferences in Geneva.” Big Red Al is quoted as saying.
Mr Wenger revealed that he had missed out on Christiano Ronaldo by a mere few hundred thousand pounds. Vindication of Ferguson's transfer policy and a sad indictment of our own if ever there was one. So much for Mr Wenger 'knowing what a player is worth'!
Apparently no pizza was thrown during the meal.
Stan Kroenke has finally been offered a place on the Arsenal board. The American Billionaire, who holds 12.4% of shares in Arsenal Holdings PLC (Arsenal), said that he was honoured to be invited to join. Stan’s appointment is widely viewed as an attempt to parry a possible takeover by Usmanov, indeed, Stan has even signed the oft mentioned ‘lockdown’ agreement.
If Stanley can bring his considerable commercial skills to bear on the Arsenal then next years profits may be even more impressive than this years results.
The Figures:
For the year ending 31st May 2008, Arsenal recorded a pre-tax profit of £36.7 million – F*ckin-A! These results cement the Arsenal’s position in the five biggest revenue-generating clubs in the world. Peter ‘Prince Philip of Greece and Denmark” Hill-Wood says: “The football club generated an operating profit figure of approximately £60 million for the 2007-08 financial year, so you can see that the £20 million annual debt service costs are very comfortably covered.”The Arsenal’s net debt has grown over the past year from £268.2 million to £318.1 million, with the club acknowledging a “reduced level of property activity”. This debt comprises the £250.2 million of long-term fixed rate bonds for the Emirates Stadium and £133.5 million of bank loans that fund investment in the Highbury Square redevelopment. However, the club are expecting an increase in property sales for 2008-09 (despite the financial situation and presumably forecast on the completions since the end of the last financial year), with many Highbury Square apartments scheduled to be completed and released for sale. Already completions from the first phase of 65 apartments have so far made £18.7 million. Broadcasting income is up from £44.3 million to £68.4 million largely due to the new TV deal and a good Champions League run. Incredibly, the move to the Grove has increased match-day income to £94.6 million.Wages have increased from £89.7 million last year to £101.3 million, meaning that wages are about 45% of the club’s turnover. Although personnel changes (e.g. selling all our players) and new player contracts mean that this figure is already out of date. Whether that figure will have gone up or down thoug, I have no idea.
It seems the board’s forward thinking approach to the financial running of the club is paying dividends, with a beaming Prince Philip stating: “We are committed to operating the club as a business which is financially self-sustaining,” The question all fans are asking is will there be funds available? To which Hill-wood tells us “Funds will always be made available to Arsene to improve the quality of the squad and we have consistently stated that adequate funds are available to him if needed”Again, it’s about Mr Wenger having the money and knowing how much he wants to spend on a player, NOT about a lack of funds. I think that Mr Wenger has the same issue that I have with my Nectar Card. Having spent so much time building up a decent amount of Nectar Points I find myself reluctant to spend them – likewise Mr Wenger has bought and sold the club into the black and now seems unwilling to tip the balance.
Bolton away today. Used to be a tougher prospect than it is now. No doubt our players can expect a thumping welcome. I put out a plea to any Bolton players reading this, just steer clear of our players knee/thighs! No doubt this is a game we should win and it's on telly - awesome!
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