Arsenal are ninth richest club in world football but their funds have been reduced to the bargain bins.
Unai Emery confirmed there was no money for permanent transfers and, indeed, the Gunners could sign only Barcelona's Denis Suarez on a season long loan deal. The same situation will be in the summer transfer window as reports claim that the Gunners have only £45million to spend in the market.
assesses why the ninth-richest club in world football finds themselves consigned to the bargain bins.
According to the latest Deloitte Money League, their total revenue was down from £419m to £389m. Yet, the fact they are ninth-richest club in world football indicates they still have significant clout.
Under Kroenke’s control Arsenal wage bill has gone through the roof, the club smashed their transfer record three times in the space of five years on Mesut Ozil, Alexandre Lacazette and Pierre-Emerick Aubameyang. The wage bill is at this level mainly because they decided to award Mesut Ozil a contract worth £350,000-per-week. Under Financial Fair Play regulations, clubs can only increase their wage bill by seven per cent per season. Arsenal are approaching that threshold with the current wage bill around £210,000,000 in the latest financial results, hence the restrictions.
The decision to let Aaron Ramsey leave belonged to Unai Emery. But the financial implications on the decision are clear. Ramsey would have expected a new contract worth well in-excess of his current £100,000-per-week wage. The club were prepared to give him an improved deal, but the offer was eventually retracted, as the money could be used more efficiently elsewhere.
Another huge earner is Aubameyang, who gets £200,000-per-week, Henrikh Mkhitaryan is on £160,000-per-week while Lacazette’s deal is worth in the region of £140,000-per-week. There are then a host of players earning at least £100,000-per-week. In short: Arsenal’s wage structure is at breaking point.