Arsenal's profit puts heat on Wenger
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E-mail China Daily, February 27, 2013
Arsene Wenger will face renewed calls to splash out on new signings after Arsenal announced a pre-tax profit of 17.8 million pounds ($26.8 million) in its half-yearly financial results on Monday.
Wenger has been criticized repeatedly in recent years for failing to spend big money on new players while Arsenal's results on the field continue to suffer.
The Premier League club's latest healthy financial report, to the end of November 2012, will only add to the pressure on the Gunners' boss to loosen the purse strings at the Emirates Stadium after eight years without a trophy and embarrassing exits from the FA and League Cups against lower league opposition this season.
The profit, down on 49.5 million pounds for 2011 and achieved by the 24 million pound sale of Robin van Persie to Manchester United, accompanies an increased figure of 123.3 million pounds in cash reserves.
The Arsenal Supporters' Trust claimed the figures highlight the need for the club to spend more money on the team.
"These figures contain few surprises. They show that Arsenal yet again made a profit from the sale of their best players and that the club has large cash reserves," an AST spokesman said.
"Arsenal fans have contributed to this financial health through paying some of the highest ticket prices in world football. AST members want to see this money used for more, and better, investment in the team".
However, rather than promise to break the bank for star players, Arsenal chairman Peter Hill-Wood insisted the club's financial stability was the foundation of their regular presence in the Premier League's top four and the Champions League.
"Our ability to compete at the top of the game here and in Europe is underpinned by our financial performance which gives the club strength and independence," Hill-Wood said.
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