Arsenal's Financial Situation

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Re: Arsenal's Financial Situation

Postby Callum » Thu Aug 06, 2020 2:29 pm

I honestly feel pretty sickened by all of this. Spurs/ Liverpool were rightly called out for their actions during the pandemic, and now we're going one step further and actually sacking people. We could easily flog someone like Elneny and get his wages off of the books and that'd cover these salaries...

Either way, our owner is a billionaire. F*ck him, and f*ck the football executives who're doing serious damage to this club. We should still be buzzing after an FA Cup victory but instead this shameful decision has been taken.
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Re: Arsenal's Financial Situation

Postby King of Highbury XIV » Thu Aug 06, 2020 2:57 pm

This sounds like a Mesuit Ozil problem
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Re: Arsenal's Financial Situation

Postby Callum » Thu Aug 06, 2020 3:44 pm

Would highly recommend Arseblog's post today about this: https://arseblog.com/2020/08/kse-run-a- ... ball-club/

This bit in particular:

If some of them are feeling bemused this morning, would you blame them? They were the only group of players in the Premier League to take a pay cut because of the pandemic, assured by those on high that it was necessary in order to save jobs. Now, just days after the monumental effort given to win the cup they find out that’s not the case and those jobs are going anyway. Were they sold a pack of lies? What about the manager, Mikel Arteta, who had to go some way to convince a squad which had trust issues with the ownership when these cuts were first mooted? How does he feel now? Does that affect his relationship with his squad, or those at executive level?

For me though, the most egregious part of this statement was the way it tried to play emotional tricks on fans. This was an update from ‘your club’. Job losses were framed as necessary for us to improve our squad during this transfer period. It is there in black and white:

It is now clear that we must reduce our costs further to ensure we are operating in a sustainable and responsible way, and to enable us to continue to invest in the team.

Operating in a ‘sustainable and responsible’ way sounds quite reasonable, doesn’t it? Who could argue with such an outlook? Yet it doesn’t tally with the way we’ve been operating in recent times. Is, for example, spending close to £5m to sign an injured player on loan before signing him for free a few months later ‘sustainable and responsible’? Is it sustainable and responsible’ when your Head of Football and a former colleague at another club require the intervention of a highly paid super-agent to complete a transfer in which said agent represented neither club nor the player in question? Is it ‘sustainable and responsible’ to pay over £20m for the services of a veteran player for one year? And for those who choose to believe the denials of certain agents, I have some magic beans for sale, just drop me an email.

As fans we want the best for our club and for our team, but it’s hard to square the circle of 55 job losses with the idea that we’re about to drop a big signing on fee for a soon to be 32 year old player from Chelsea, as well as paying him north of £6m a year for three years. I know it’s back of a match-book stuff, but if the average salary of those 55 people was £50,000 per year, the saving to KSE over the year is £2.75m. We want to give Pierre-Emerick Aubameyang a new contract of £300,000 a week, we can find the money to pay him £15.6m a year but 55 hard working people have to lose their jobs in a pandemic in order to do so? Does that sit right with everyone? It doesn’t with me.
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Re: Arsenal's Financial Situation

Postby StockGooner » Thu Aug 06, 2020 4:30 pm

This absolutely wreaks and whilst some mightsay it is only a sport, this is the final nail in a pathetic coffin for me. How any club can sanction this is beyond me. We all know the savings are minimal. Assuming £40k for all staff we're talking £2.2m for a whole year.

I feel sorry for the players as well as no doubt they will get it in the neck. Yes, they are overpriced. Yes, they aren't performing as their wages say they should. But they have short careers and have been given contracts saying they will receive X, have had it lowered and STILL we make people redundant.

I cannot say I'm proud to support this club anymore after this.
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Re: Arsenal's Financial Situation

Postby aniym » Thu Aug 06, 2020 4:49 pm

Crows coming home to roost after years of financial mismanagement in the transfer market, now accelerated by the shutdown.

- £17m + wages for Lucas Perez, then sold to West Ham for £4m
- £60m cash for Alexis turned down
- £350k pw for Ozil, £200k pw for Mhikytaryan
- £12-15m for one year of David Luiz, thanks to the club not sorting out the Koscielny situation
- £72m for Pepe
- Failure to sell Mustafi, Welbeck, Elneny, Mhikytaryan and Chambers
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Re: Arsenal's Financial Situation

Postby Callum » Thu Aug 06, 2020 6:34 pm

13 scouts gone in total then:

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Re: Arsenal's Financial Situation

Postby StLGooner » Thu Aug 06, 2020 7:01 pm

Who needs scouts when you can just watch youtube highlight videos. Pffttt!!
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Re: Arsenal's Financial Situation

Postby StLGooner » Thu Aug 06, 2020 7:04 pm

I wonder if Stan would step in and help these employees if he wasn't spending an extra 2 to 3 billion on his dream Los Angles NFL stadium.

I'm sure his wife the Walmart heiress could spare some change.
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Re: Arsenal's Financial Situation

Postby Phil71 » Thu Aug 06, 2020 7:10 pm

StLGooner wrote:Who needs scouts when you can just watch youtube highlight videos. Pffttt!!


Kia Joorabchian has scouts.

We don't need any.
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Re: Arsenal's Financial Situation

Postby Angelito » Thu Aug 06, 2020 7:30 pm

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Re: Arsenal's Financial Situation

Postby Özim » Thu Aug 06, 2020 7:34 pm

StLGooner wrote:I wonder if Stan would step in and help these employees if he wasn't spending an extra 2 to 3 billion on his dream Los Angles NFL stadium.

I'm sure his wife the Walmart heiress could spare some change.


There is some good news, according to this article Kroenke has got £325 million richer. I guess it’s from being a model owner and investing in the club.

https://www.google.com/amp/s/inews.co.uk/sport/football/arsenal-stan-kroenke-net-worth-wealth-increase-pay-cuts-coronavirus-426883/amp
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Re: Arsenal's Financial Situation

Postby StLGooner » Thu Aug 06, 2020 7:40 pm

Özim wrote:
StLGooner wrote:I wonder if Stan would step in and help these employees if he wasn't spending an extra 2 to 3 billion on his dream Los Angles NFL stadium.

I'm sure his wife the Walmart heiress could spare some change.


There is some good news, according to this article Kroenke has got £325 million richer. I guess it’s from being a model owner and investing in the club.

https://www.google.com/amp/s/inews.co.uk/sport/football/arsenal-stan-kroenke-net-worth-wealth-increase-pay-cuts-coronavirus-426883/amp



I want to publicly challenge him to a fight.
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Re: Arsenal's Financial Situation

Postby Callum » Thu Aug 06, 2020 8:38 pm

What a total farce this is. Embarrassing from the club.
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Re: Arsenal's Financial Situation

Postby Phil71 » Thu Aug 06, 2020 8:47 pm

If the club want to restructure then fine. If the roles people are in really are redundant then fine. An employer can't be expected to keep someone in a job if there's no job to do.

But to blame the redundancies on Covid19, and to say it is being done so that the club can invest in the team is a public relations disaster.
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Re: Arsenal's Financial Situation

Postby EliteKiller » Thu Aug 06, 2020 11:06 pm

Phil71 wrote:If the club want to restructure then fine. If the roles people are in really are redundant then fine. An employer can't be expected to keep someone in a job if there's no job to do.

But to blame the redundancies on Covid19, and to say it is being done so that the club can invest in the team is a public relations disaster.


This - to claim a club that turns over 400m can't afford 55 staff whilst offering to sign a 32 year old on >100k a week? - that's just bollocks.

The fact is having our own scouting team is a waste of time, we are not alone in thinking this, in house scouting has been reduced massively by dozens of clubs across Europe, with kids as young as ten having agents scouts no longer have a purpose, you can't "discover" a player when he is already being promoted to every club in Europe by an agent ... it's a bit like having a guy knock on your door asking if you've heard of the new pizza after you've already had a dozen flyers stuffed through the letter box and seen 500 google adds ... it simply no longer adds value. If you then consider that agents now run their own scouting networks (often using the same people paid for by clubs) then you just don't need your own scouts anymore.

Arsenal's problem as usual is the PR department - literary days after an FA Cup win all that joy is sucked out of the club by this inept press release and incredibly bad timing ... people get made redundant it happens, but to hide behind Covid? that just sucks.
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