(Mods - could this be made a sticky?)
To start off the debate, I will post my take on events, from what I understand to be the case.
Who holds the Power at the Emirates - the Board or Wenger?
Wenger, no doubt.
Wenger has improved the worth of the club several-fold since he arrived. The Board are shit scared of him leaving for two reasons - 1) he makes them a nice profit each year on a shoe-string, whilst keeping us competitive 2) without him, how much would they need to spend to keep us competitive. Who would we employ as manager? What if we fell out of the Champions League? To the Board, it doesn't even bear thinking about. Wenger is our Sir Alex Ferguson. In other words he is what is termed a "Mandoc" - a Company dominated by one man.
Have the Board over the last ten years mis-led us about the financial support available to the manager?
My understanding is that the situation changed because of Highbury. The idea was that we could continue to spend as we had done previously, as Highbury was to be ring-fenced (it was an SPV) and would be self-sufficient. As I've said before, a large pre-sale fell through, the Banks asked for the shorrt-fall to be covered, which came from the Football Club cash reserves. This meant the Club could not invest in the team until the flats had been sold. Since then, monies have been freed up, but Wenger appears to have chosen to invest monies on extending player contracts, rather than on transfer fees. He sees that in the present climate, we can't and won't compete with un-sustainable businesses such as Chelsea and Man City. I can see his point, but he also seems to have too much faith in mediocre players. This is Wenger's fault and not the Boards (IMHO).
Was the faith in youth and a constrained budget brought in by the problems with Highbury?
I think it came into place to counter Chelsea and Abramovich, not because of our own financial position. Wenger is an economist. He saw the way football was going earlier than most. Once we won the 2003-4 Title, the team was pretty much dis-assembled at will. Wenger from this point saw a self-sufficient model to be the way to go. The squad was too old and Wenger saw that a youth project would replace it. It has simply been stepped up since City were bought.
PLEASE KEEP ALL BOARD-RELATED CHAT HERE. IT IS RUINING THE REST OF THE FORUM....


