The Credit Crunch And Arsenal

Arsčne Wenger’s latest interview in the February edition of the official Arsenal magazine confirms that Sterling’s fall against the Euro and the US Dollar will affect British clubs, a story first brought you over a month ago.  
It didn’t take a rocket scientist to work it out really. Arsčne has also said that all club player contracts are expressed in Sterling which is a relief. The pay bill won’t be zooming up just to compensate for exchange rate drift. Interestingly however, he didn’t say that there aren’t players who have an exchange rate clause in their contracts. This COULD have the same effect as the contract being wholly or partly in Euros.  
Even if this isn’t the case, players will notice the drop in Sterling whenever they go home. It will make it more difficult to hang on to current players and to sign high-quality foreign players.  
All this will leave us more reliant on our youth scheme. A lot of time, effort, money and expertise have been expended on this. One advantage of having Wenger at the helm is that young players may well choose Arsenal over other clubs as they know it’s more likely they’ll get a game if they’re good enough.  
I’ve said before and I’ll say it again. I’m not in favour of the “sugar-daddy” approach to club financing. It leaves any club so dependent reliant on the whims of some rich mucky-muck. I can see how Manchester Citeh fans might be salivating over the possibility of signing Ka Ka for an alleged £100 million. Common sense and experience will tell you however that you don’t build a house from the roof down. The first thing you do is put in firm foundations. Ka Ka, great player that he is, isn’t going to stop Citeh giving away silly goals.  
Our great Achilles’ heel at the moment, like Citeh, is we let in too many soft goals. It’s not just the goalkeeper and back four. We don’t defend well as a team. That’s what needs attention. We all pay a lot for our tickets. We want better. Of course we do. The last piece of the financial and construction jigsaw that enabled our move to our new home is a victim of the credit crunch. The sale of flats at the old ground, the one element of the various housing developments on three sites that we kept “in-house”, is on the floor. Many of those who’ve plonked down huge deposits are having trouble getting a mortgage. It’s probable that there will be many defaults. Meanwhile the builders still have to be paid and the construction loans paid off.  
This may well crimp our financial style for some time. If you think we’ve got problems however, so has just about every other club in Europe. If we show some patience I’m convinced it will come right eventually.   
On the park we travel up to Humberside on Saturday for a vital Premier League game needing three points big style. The Tigers haven’t been able to buy a League win for months after a great start to their first ever season in the top flight. Their win against Toon in the FA Cup at St James’ Park might reflate their sales a little but I hope we’ve developed enough grit in recent weeks to grind out a win.   
Keep the faith my fellow Gooners!  

LOGIN to Comment
LOGIN to Comment