Arsenal non-executive chairman Peter Hill-Wood has indicated that Arsene Wenger could be handed 'surplus funds' after the club announced half-year pre-tax profits of £35.2million.
The Gunners have revealed their latest financial records and there has also been a significant reduction in the club's net debt to £203.6m as of 30th November 2009 from £332.8m on 31st May 2009.
In the wake of the positive results, which are based on the sale of 261 apartments at Highbury Square, Hill-Wood has indicated that Wenger, who has bemoaned a shortage of cash, could be given spare money to invest in his team.
Hill-Wood told Arsenal's official website: "There has been remarkable progress at Highbury Square over the last 12 months and it is clear that the next couple of years will see our property activities delivering surplus cash.
"This is very good news, although I would not want to speculate on the exact quantum or timing of this.
"How we will use this surplus remains undecided but, in addition to investing in the team, I think we will examine investment in club projects and infrastructure, both in and around Emirates Stadium, which will provide a long lasting benefit to the club and our tremendous, loyal supporters.
"Looking ahead, our strong financial base allows us time to take a measured and diligent approach to determining the club's direction beyond our move to Emirates Stadium and into the next phase of growth."
ARSENAL ANNOUNCED HALF YEAR PROFITS
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nuttygoonerpaul
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Percy Dalton
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Percy Dalton
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Yes, get in there!
What a great set of financial results we are having this season. I am looking forward to the club spending our surplus money on some more infrastructure. I mean it is obvious thats where the cash needs to go with our old and delapidated stadium and training facilities.
http://www.arsenal.com/news/news-archiv ... -announced
Hope fully we can continue in this wonderful financial trend and come 2012, after we have sold some more flats, Arsenal can maybe purchase a player or too. However, it is wonderful that we have been able to affored to resign some of the wonderful quality we have on long term contracts. We could have lost Almunia is we hadn't given him the big fat contract he would have got nowhere else!
What a great set of financial results we are having this season. I am looking forward to the club spending our surplus money on some more infrastructure. I mean it is obvious thats where the cash needs to go with our old and delapidated stadium and training facilities.
http://www.arsenal.com/news/news-archiv ... -announced
Hope fully we can continue in this wonderful financial trend and come 2012, after we have sold some more flats, Arsenal can maybe purchase a player or too. However, it is wonderful that we have been able to affored to resign some of the wonderful quality we have on long term contracts. We could have lost Almunia is we hadn't given him the big fat contract he would have got nowhere else!
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Exiled-Gooner
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Wengers summer signing are a plasterer,brickie and site foreman.-
Percy Dalton
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We have our talent scouts on the case looking out for our big summer purchase!
http://www.channel4.com/4homes/on-tv/lo ... -location/
http://www.channel4.com/4homes/on-tv/lo ... -location/
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marcengels
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flash gunner
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Re: ARSENAL ANNOUNCED HALF YEAR PROFITS
"Come on Mr Hill-Wood back to bed its your medication time"nuttygoonerpaul wrote:Arsenal non-executive chairman Peter Hill-Wood has indicated that Arsene Wenger could be handed 'surplus funds' after the club announced half-year pre-tax profits of £35.2million.
The Gunners have revealed their latest financial records and there has also been a significant reduction in the club's net debt to £203.6m as of 30th November 2009 from £332.8m on 31st May 2009.
In the wake of the positive results, which are based on the sale of 261 apartments at Highbury Square, Hill-Wood has indicated that Wenger, who has bemoaned a shortage of cash, could be given spare money to invest in his team.
Hill-Wood told Arsenal's official website: "There has been remarkable progress at Highbury Square over the last 12 months and it is clear that the next couple of years will see our property activities delivering surplus cash.
"This is very good news, although I would not want to speculate on the exact quantum or timing of this.
"How we will use this surplus remains undecided but, in addition to investing in the team, I think we will examine investment in club projects and infrastructure, both in and around Emirates Stadium, which will provide a long lasting benefit to the club and our tremendous, loyal supporters.
"Looking ahead, our strong financial base allows us time to take a measured and diligent approach to determining the club's direction beyond our move to Emirates Stadium and into the next phase of growth."
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brazilianGOONER
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that is good news. i'd love to see wenger be the man to spend the money when we are debt free. i can only think of good things whenever i remember the time he used to spend (even though it was not on expensive players). he didn't need to make super signings to create the invincibles, and without spending at all he managed to keep us on the top4 with a freespending chelsea, and highspending manure and liverpool.
i'd love to see what he'd do again.
i'd love to see what he'd do again.
you'd 
......or 
Wiping that much off the debt is amazing on one hand, in the current environment..........but not surprising seeing as we have sold 40m worth of players and saved somewhere in the region of 5m in wages in the year as well from those players.
It's very concerning to see the quote
It kind of proves a point that we are being run more as a business (albeit quite well) rather than a football club. Yet again, if the club just came out and said we have to be very prudent for 3 years to manage our debt down to almost nothing, then I'm sure most people could accept it more, but we continue to be told by the board and Wenger himself that money is available for players? Doesn't make me feel very optimistic about the team for the next couple of seasons.
It's very concerning to see the quote
That is very worrying indeed as I want to see the club say 'First and foremost, funds will be made available to strengthen the first team squad where necessary'.The club said it would consider investing future surplus cash in club projects and infrastructure both in and around the Emirates Stadium.
It kind of proves a point that we are being run more as a business (albeit quite well) rather than a football club. Yet again, if the club just came out and said we have to be very prudent for 3 years to manage our debt down to almost nothing, then I'm sure most people could accept it more, but we continue to be told by the board and Wenger himself that money is available for players? Doesn't make me feel very optimistic about the team for the next couple of seasons.
From a neutral point of view... if Arsenal can remain in the top three and the CL for the next three years, they'll be in a very healthy position. They'll probably have £100m of funds (either as "profit" or as available transfer kitty - probably the former) and they'll be the envy of poorly run clubs all the way from Portsmouth to Glasgow.
From a supporter's point of view, while this is excellent, it does mean our frugality in the transfer market is likely to continue for three years, meaning our trophyless run will extend to almost a decade.
From a supporter's point of view, while this is excellent, it does mean our frugality in the transfer market is likely to continue for three years, meaning our trophyless run will extend to almost a decade.
