Usmanov takeover

[Magic Hat]

How come it is nonsense?

[Chippy]

According to today's Observer,

Danny Fiszman, Arsenal's second largest shareholder, has admitted for the first time that the club may give the Russian billionaire Alisher Usmanov a place on the board.

http://www.guardian.co.uk/football/2008 ... mierleague

[Magic Hat]

I pray that is just a rumour

[QuartzGooner]

Saddle the club with debt? We're already saddled with plenty of debt, no matter how you spin it. It may be "manageable" debt, and it may be completely paid off within 20 years, but does that make a difference?

Digger, it makes a huge difference. It's the difference between being Arsenal and being Leeds...

what nonsense

No, it is sense.

We have structured debt, paid at fixed interest rates over a fixed time period, incurred because we built a new stadium that has increased match day revenues and other commercial activities.

Leeds ran up huge debt by purchasing too many players, of too poor quality and resale value, at too high a price, without equivalent success on the pitch...and so their investment in playing staff did not lead to increased profit.

Leeds had unmanaged debt, a huge failed gamble, and they went bust.