Tag Archives: abramovich

Chelsea and spurs Money Woes is Deja Vu for Gunners

The current situations of Tottenham and Chelsea are, first and foremost, hilarious.

Chelsea owe billionaire owner Roman Abramovich over a billion pounds in unpaid, interest free loans that the Russian has forked out since his time as Oligarch of West London.

The money has seemingly dried up at Stamford Bridge. Case in point was last season’s curb on spending that led to Conte having an unhappy attempt at regaining the title with an ageing and limited squad.

Now, plans for a lavish new stadium to replace the decrepit Bridge have been canned, with Chelsea accountants having kittens and waylaying any plans for growth in an attempt to get out of the red and back in black.

Chelsea and their plans for a new stadium

Then there is Tottenham.

Our neighbours in North London are currently way over budget for constructing their new home, as they seek to complete it in time for the 2018/19 season.

At this moment in time, this is looking unlikely, and an option to retain Wembley as their home ground next season is looking more and more likely to be taken.

The money situation is not healthy either for spurs. With the new stadium causing Daniel Levy to dig deep and the playing staff failing yet again to win a trophy, tottenham are on the precipice.

Do they spend what available loot they have to keep their key men? Or do they put it toward strengthening, and cash in on one of their big players?

The likes of Harry Kane and Dele Alli both know that if they were to talk to interested parties, they would be hearing figures that absolutely dwarf their current deals. They know they can get far more elsewhere, so a contract extension must be a lucrative one for both of them.

Then there is the likes of Christian Eriksen, Toby Alderweireld, Danny Rose and Eric Dier. All are wanted elsewhere, and all would command far more than they currently earn at spurs.

Levy knows this, but if he pumps all of the available cash into keeping them, then the status quo remains, and they can’t significantly strengthen. Pochettino has worked wonders at the club, but the bottom line is that even with their current squad, they are still potless.

So something must give.

Meanwhile, Gooners are sitting back and enjoying the cash crises that both clubs are embroiled in.

You see, we’ve been there, and we had to make those tough calls, we had to shed our leading lights, we had to endure the cheap purchases that risked much. We had to pay back the bills – and yet we managed to do so whilst maintaining a Champions League place.

What Arsene Wenger managed to do in the years that followed the completion of The Emirates is nothing short of miraculous, and should be seen as one of his finest achievements. He managed to keep a side that contained the likes of Philippe Senderos, Manuel Almunia and Andre Santos, and kept them on the straight and narrow, instilled the same attacking values that he had done throughout his tenure.

Chelsea enjoyed the fruits of Abramovich’s deep pockets unhindered for nearly fifteen years, spending lasciviously and flagrantly ignoring the concept of a healthy balance and an independent outlook to club ownership that didn’t involve relying so heavily on one man.

Now the piper is knocking on the door and wants to collect.

Chelsea, in order to truly keep their place amongst the elite, NEED to move to a new stadium, to build that complex. The longer they stay at The Bridge, the worse their situation will get, and the risks become ever greater.

Spurs need to ride out 3-5 years of cost-cutting and balancing the books. These years will either see them maintain their position as one of the perma-Champions League clubs, or they will slip and find it much harder to find their way back.

What about us though?

Well, we’ve got our new home, and we’re raking it in – but with our new owner almost invisible and minding the pennies, it isn’t as if we are out of the woods. It means that the positions that our London cohorts find themselves in is a leveller – and the next few seasons will be us duking it out for the supremacy of the capital.

Should be a real slugfest.

Arsenal Board Must Act

Arsenal’s ownership is an oxymoron.

The Premier League is awash with money, in fact, it has never been more affluent. Thanks to the TV rights deal that dwarves the other big domestic leagues, all Premier League clubs have larger fiscal muscles than their European brethren.


Our club are part-owned by Alisher Usmanov – an oligarch who is ranked amongst the richest people in the world, and Stan Kroenke – an American whose portfolio is amongst the largest in terms of sports teams. We also have Ivan Gazidis who was awarded a bonus for a season which is the worst placing in over two decades. 




On their own, Kroenke and Usmanov could financially back any team to the zenith of sporting achievement. They could completely transform the outlook of the league should they choose to.


Instead, with a backdrop of torrents of currency, they both choose to stand idly by as other clubs push on.

It is ironic that these ridiculously rich men who spent ludicrous amounts to garner our shares, now do nothing more than lasciviously eye each others stash of our club.


Perhaps our current problems in the Boardroom are magnified in part due to our past ownership?


The setup was always led by Arsenal-DNA. Although the loyal Ken Friars is still part of the makeup, decisions are now not made with Arsenal at heart.


Our club no longer have a hand on the tiller that is primarily concerned with the progress of our club, and it has now come to a point where it is harmful.


The good work that was put in during the late 90’s and early 2000’s gave us a headstart, one which was vital to capitalise on. The chasing pack was closing in, but we didn’t stretch our gap, we simply treaded water.


Now we stand on the precipice, caught between the ignominy of being just another member of the flock that grasp towards the top, and rekindling our groove and making ground on the distance we lost.


Manchester united may be saddled with debt, but they have crucially continued investment in recruitment. They have also shown little patience for mediocrity.


Manchester City have embraced the funds of their owners and player purchases continue unabated.


Chelsea too have dug deep in their pockets and regular silverware has been the produce from their spending.


Then there is tottenham and Everton.


Our North London neighbours have spent well and have a new stadium to look forward to. This new home has the capacity to propel them to regular contention for honours. They have not had the income of their more illustrious rivals but it has not stopped them. Of course there are many variables that may yet take them off course, but they are primed to continue their rise from where they were a decade ago.


Everton are under the stewardship of new owners. They now have the resources necessary to take them higher than erstwhile European place challengers. Ronald Koeman lost his way, but their spending spree in the summer is just a signal of what they are now capable of.


This is now the time for us to act. We have the potential in our sponsorship deals and our gate receipts to muscle in on the show that is seemingly going on without us of late. We could also overtake all and sundry if our owners acted like owners should.


At this moment we are merely a trophy on a wall, a conversation starter in auspicious surroundings whilst swilling brandy amongst the hoi-polloi.


Our previous Board members who are long since departed from the club showed how it should be done. Hell, even the dubious roubles of Roman Abramovich are evidence that not all takeovers have to be negative.


We need Usmanov and especially Kroenke to put their pennies into their new shiny piggy bank. The trouble is, they have not invested a brass farthing since becoming involved.


And it has worked in a business sense. Share prices have nearly doubled since 2007.


Maybe it is a nostalgia that blinds us. Football is a business now, but surely owners want their toys to be bigger and better than everyone else’s?


Right now, Kroenke has left his new plaything out in the rain to gather rust. We have a Chief Executive that received a bonus for a fifth placed finish so there is no incentive for improvement, which only adds to our woes.


Competition should see the strongest survive, and we are now limping behind.