With hundreds of millions in turnover every year, Arsenal football club needs responsible leadership and a value-based custodian. In an ideal world the club is owned by the supporters and the leadership – selected by the supporters – acts on the supporters’ needs and aspirations, both short term and long term. This model is near impossible at Arsenal now and the next good thing is a majority shareholder who is in it for the long term, respects the club’s history and values and have high ambitions for silverware.
Bergkampesque is an independent blog and is not financed by anybody or advertising. It is focused on the beauty of the Arsenal game and not afraid to give our version of the truth. 🙂 I have always said that I liked the way the club is managed and had nothing to complain about. We have a financial self-sustaining model and are developing exciting youth players, buy one or two top quality players every season (recently more) and don’t sell our best players anymore unless it makes sense.
To further support this view, I (TotalArsenal) am putting up a link up of a BBC interview with Josh Kroenke and the rest of the post is a comment made by GoonerEris re the custodianship of the club:
Goonereris’ recent comment:
The criticism of Kroenke for a “lack of investment” or “paying himself huge dividends” have been so misplaced, and I don’t say that in the euphoria of this window but just on the facts.
Since buying up a 62.9% stake in the club in mid-2011 (up from 29.99% he had acquired since 2008), the club started a gradual re-build and investment in people and technology like it had never done. By the close of the summer (transfer window) of 2013/14 season, Arsenal had spent more on players than it did in the last 10 years before his acquisition of a clear majority stake. That means within 3 years of his taking control, we spent more on players than we did for a decade.
The argument may be made that the period coincided with the rising player fees and that Arsenal were restricted in spending because of the stadium project, but the facts are the facts. Plus, we had the restrictions placed by repaying loans from the stadium project up until 2016, and still haven’t completed repayment of the loan, anyway.
As for the accusation of dividend payments, that was a farce as it turned out. The club has held onto a policy of no dividend taking, up until the man got full control (now, we can’t know and shouldn’t care since he owns the club, entirely, in effect). At the start of 2014 year, a £3m payment to one of his companies for Advisory/Consultancy services was seen by the AST as him taking out money and though the club defended it as a mere token considering the extent of beneficial consultancy services (re-jig of our commercial play, expansion of sources of revenues, Data analytics, new fan base build-up, etc.) received from the company, the payment was stopped.
Fact is Stan Kroenke has defied the naysayers and stayed the course, respecting the club’s philosophies and values, in the face of growing pressure to become a sugar daddy owner. I have always felt, if and when the times call for it, he is unlikely to hold back personal funds to support the club. The fans need to give him a chance. Sorry, that was a bit long but I have had to make this case to someone years back and assured him we will have successes under this owner, if we stay patient.
By TA / Goonereris