Mostly unnoticed on the UK side of the Atlantic, Arsenal’s majority shareholder, Stan Kroenke, has suffered a setback to his sporting ambitions in the United States.
Kroenke combines being a Trappist monk (vow of silence) with owning sports franchises in the NFL (American football), NHL (ice hockey), NBA (basketball) and MLS (soccer) as well as his stake in Arsenal. He also owns a professional lacrosse team (it’s a game where people chase a ball with butterfly nets) and, for all I know, he may be heavily invested in curling, dwarf-throwing and synchronised swimming.
But even that’s not enough! Up until last Thursday (March 28th) Kroenke had also been in the final round of bidders for the LA Dodgers baseball team.
The Dodgers, one of the biggest “brands” in US baseball with a beautiful, historic stadium in the hills above Los Angeles, had filed for bankruptcy protection under the previous owners and the franchise was put up for sale.
In the end the winning bid – a mighty $2 billion – came from a consortium including former LA Lakers basketball legend Magic Johnson.
Silent Stan’s failure is not particularly surprising. Had he won, he would have found himself in violation of the NFL’s cross-ownership policies (even though basketball and football are different sports, the NFL controls the LA market).
Further, the NFL are said to be unhappy with his stewardship of his American football team, the St Louis Rams and there have been suspicions that he wants to move the Rams out of Missouri and back to Los Angeles (where, as the LA Rams, they played from 1946 to 1994).
With Stan having failed to buy the Dodgers, NFL officials, off the record, are welcoming the prospect of him having more time on his hands to sort out the Rams. Which sounds kind of familiar, doesn’t it?
Since he gained effective ownership of Arsenal, many commentators and supporters’ groups have questioned whether Kroenke devotes enough time to the club – and, in particular, to making it successful.
His “absentee landlord” approach was deemed to have contributed to Arsenal’s woeful performance in the summer transfer window last year. (History may yet be a kinder judge of the 2011 window, given that it brought in the likes of Arteta, Mertesacker, Oxlade-Chamberlain, Santos and Gervinho, but there is no doubt that the last minute nature of many of those deals appeared desperate and unplanned).
Without the job of revitalising the Dodgers (who have not won a World Series since 1998) it is to be hoped that Kroenke will, indeed, be free to give more focus to Arsenal matters.
We may already be seeing the fruits of that, in the apparent attempt to sign up Lukas Podolski even before the window has opened.
Let’s not forget, last year was Stan’s first experience of the transfer window as club owner and I’m sure he learned a lot. You don’t get to be as rich and successful as he is without being smart and I am confident he will not make the same mistakes this year.
That should mean that we buy early and that we also tie up our business with van Persie, Song and Walcott sooner rather than later.
Time will tell whether Kroenke turns out to be a great owner of Arsenal, a good one or a failure. I have read many comments suggesting that he presides over mediocrity in his US sports franchises.
That’s actually a little harsh and also betrays a shallow understanding of American sport, where it’s often much harder for a small group of teams to dominate for year after year.
The Rams won the first Superbowl in their history under Stan’s stewardship; his basketball team, the Denver Nuggets, have made the NBA play-offs for the past eight years; his ice hockey franchise, the Colorado Avalanche, has won a Stanley Cup (equivalent of the Superbowl) under his involvement as well as achieving two divisional championships; and the Colorado Rapids (his MLS soccer team) won their first MLS Cup in 2010 with Stan as owner.
So he’s hardly been a flop and, as far as I know, none of his sports businesses has gone bust or is in heavy debt or is run on uneconomic lines. All these things augur well for Arsenal.
RockyLives
Arsenal News 24/7
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Morning all
Not much Arsenal news around and not too much bragging since the dropping of three points last Saturday.
We do need a post for tomorrow and Saturday at the moment if anyone has any ideas.
Cue loads of people saying how much we need a fat uzbek criminal.
There is a lot of negative press about Kronke. Wonder where that comes from?
I know a lacrosse referee who has reffed the lacrosse WC
wordpress is annoying me again. Asks me to login when I already am.
Good to hear some balanced and positive information about SK’s US interests. Personally, I like the silent Stan approach. Let him be the quiet rudder providing calm direction and let the specialists he employs do their job. Far far prefereable to the Abramovich egotistic, I know best, interference model which I would guess would be the Usmanov approach too. Brrrrrrrr! No thanks.
Eveyrone’s gone to the moon
Mornmig all, thanks for the insight on the activities of our owner across the pond The Rock.
Only time will tell if Stan’s hands off approach is best, but I agree the Abramovich egomaniacal meddling approach is not.
GM – well done for not calling Usmanov the fat russian – one of my pet hates is when people keep calling Jabba a russian.
I think this summer will be quite important for Stan.
There is still a doubt hanging over our ability to finish in the top 4 and this weekends tough fixture at Home to Man City will probably decide our fate. If we lose, I think both the Chavs and Spurs will finish above us. That is based on Spurs relatively easy run in and the Chavs annoying ability to finish the season strong and ours to monk it up. I am hoping that the additional games in the FA Cup and CL will knacker them.
I do think we will beat Man City though, not sure why, but I think QPR was the kick up the complacent arse they all needed. And I include Wenger in that. His selection of Ramsey (Who I do rate) in a forward position smacked of arrogance and complacency and he and Arsenal got punished for it.
Regardless of where we finish, Arsenal simply have to strengthen this summer. For once (and it has not happened for about 6 years) we the fans need to go into a season we a genuine belief from the head and the heart that we can do something. In recent years the season as far as success goes has almost been over before we have kicked off. We need to bring the quality signings that are often promised and rarely delivered. We have the core of a very strong squad but instead of numbers we need to add the quality to the best starting 11. Podolski, M’villa, and dare I say Hazard would do that.
We also need to clear out the dead wood. It is all very well Chamakh coming out yesterday and saying he is staying and will fight for his place, but you can see in his body language and on the front page of the Sun that he is clearly a passenger reaping the rewards of a bosman induced high wage. We also need to stop being so sentimental. Diaby skillwise on his day is unplayable, but sadly and usually injury is the reason why is unplayable. We cant keep these players on the wage bill. I would go a lot further and clear the following out (some of which will leave due to contract expiry) Almunia, Manonne, Fabianski, Diaby, Denilson, Vela, Bendtner (although he accepted a squad role, I would keep him), Djourou. I think i would also like to see the reserves and youth’s trimmed. We have far too many of them who clearly wont make the grade at Arsenal. Why tie up our wage budget with them?
Finally would I prefer Usmanov. Yeah I probably would as I think with his riches it would be more probable that we would change the status quo of quantity rather than quality and potential rather than ready made.
Hi Pathe, I share your fears about our chances of slipping behind the Spuds, whileI bleeive the chavs will put all thgeir energies into the 2 cupo competitions.
I don’t think the ageing chav midfield will be able ot fightr on 3 fronts and as an ex chav player was saying on Talk Shite this morning he couldn’t see past a Chav exit from the Championls League agianst the Catalan Divers.
We play them between the two legs of the Cheating Divers match so I expect them to be distracted by that. For that reason I fear dropping to 4th but not down to 5th so much.
Wow talk about being economical with the truth. Silent Stan bought arsenal with borrowed money. He borrowed it from Deutch Bank and he could barely afford it. Rich and successfull makes you smart does it? Espically when you inherit most of your money I ‘m sure that makes you a genius. Sorry not impressed the man has put Arsenal in a difficult situation as we now have an owner who is WHITE but can’t affford us or we can have a none WHITE guy which what peoples real problem with Usmanov is. Don’t give me some moral rubbish about how he controls state resources and knows heroin dealers because to be honest anyone who thinks that an american citizen with as much money as this guy can take a high moral ground with anybody else needs to think carefully. Mr Kronke is a normal US buisness man who is lucky to have a stake in Arsenal as he is out of his league financially and ability wise. I am not advocating crazy spending in Football I think the likes of Man city should be ashamed and I really hope the FFP rules have some teeth but lets not give credit to a man who borrowed and inherited his success and clerly shouldn’t have anything to do with a club of AFC’s size and class. someone who can actually afford the club would be a good start and turning up for games would be nice. Expect no money or support from this man he has never done anything with any of his clubs. Becuase in reality he can’t afford them and I can almost gunrantee you that the real reason he lost out is because of money not ownership rules because previously he has allowed his son to own clubs in order to get around this rule so he would do it again. Silent stan puts someone in charge and walks away barely even watching a match let alone learn from the transfer market please he couldn’t even name the first team as if he will have anything to do with the transfers except maybe signing a piece of paper. Next time you write an article on this guy please try and check if what his PR office says is actually the truth because whats been written is only giving a very narrow view of what is actually the most pressing backroom issue at arsenal currently. Although i must say I like the article as it does open an issue Gooners should be discussing more often.
Wow Scravaldio, not a fan of Stan’s it seems !
I’m undecided on whether Stan or Jabba(Usmanov) will be better for us long term. This summer will shed some light on how Stan sees as the right way forward for our beloved club.
Hi Scravaldio – hm, I have read your comment, but I cannot make heads or tails of it, I am sorry. what are you saying? That Usmanov would look after Arsenal interest better than Kroenke does? How? You many sweeping statements, but can you back it up with facts?
The bit about Usmanov not being white is unnecessary to put it mildly. Who gives a shit about owners skin colour?
Rocky – good post, thank you, need to digest it more later
Not the fans they dont care its the old guys on the board who want a white guy. For financial analysis of stan you need to check a swiss arsenal fans economic article. If I find it again I will whack it up here. It was written last year but is still valid. To be honest I agree pretty much every Arsenal fan out there that the entire backroom staff will be judged on this summers transfer policy. If this year they do what has been promised then I think the pressure on Stan will evaporate and Usmanov will have no battle cry and will struggle to take over. If Stan jumps in and makes sure the AW knows he can spend money and not worry about it I will happily eat a massive slice of humble pie because I actually only take notice of the board when there not supporting AW in the way they should. But and its a massive but, with an MLS CEO who hasn’t got a clue about the cut and thrust of european transfers and an already overworked AW, I would hate to see any change in transfer policy be attributed to Silent stan as he has and will do nothing like he does with every franchise he has ever owned. Why would we be any different? I really miss the days when to own a club you had to actually support the club to have a chance. Oh yeah and I heard (not a fact as far as I know) that stan is in fact a man city fan as his father used to take him to the matches. Hmmmm, self sustaining model hmmmm.
Please stan can you sell your stake in arsenal (preferably to David Dein). Your teams always fail and fans will continue to blame wenger instead of acknowledging the truth
Thank you for the post Rocky. Make no mistake, the actions and intentions of Kronke are the most important thing surrounding the future of our club.
Allow me to explain. When Kronke purchased the majority shareholding in the club, he did so by form of an “i owe you” promise, to the likes of Fizman. how did he back up this IOU?,he did so by gaurantee via his other sports investments in the States through his comapany KSE…in plain English, this means he will borrow money from banks etc against his shareholdings of these American sports teams.
kronkes sports portfolio is very complex, and the financial scenarios are many, but what i will say is this. In the agreement to buy the club, at no stage is there a proviso that he can not extract dividends from the club (i.e. take the clubs profit for himself) or that he can not dip into that lovely cash we have in the bank, to use for his own purposes.
Some people will not like this, but in my opinon the likes of Fizman, Dein, and Bracewell Smith, betrayed the club by not insisting that on purchase, exsisting cash reserves (lovely cash in the bank) had to be retained for the purposes of Arsenal. Why did they do this?, greed, Kronke bought the cash(which was generated by Arsene Wengers and the clubs success) which meant they got more for there stakes, no wonder the share price is so high.
I do not trusk Kronke, or Fatso for that matter. At present, there is not much to moan about. I dont want Kronke to put his own money into the club, its his, let him keep it. What i dont want is him to extract money from the club which was generated before his tenure. Be warned Kronke, Terry’s formidable Telescope is trained on you…..and he wont like it up him.
Rocky,
Residing and making your living in Toronto, as you do, I’m more than a little surprised by your silly jibes at North American Sports.
Lacrosse like Hurley is a “real” mans sport and I hope for your sake that a Lacrosse player does not mistake you for a butterfly and gets your balls entangled in his net,
Th Toronto Rock play their games at the Air Canada Centre – you should go and watch – then you may not be as dismissive of “North American Sports”
Oh and leave your butterfly net at home – you may be misunderstood,
Do we have a rolls eye emoticon?
Rocky fine post that I knew nothing about…cheers.
Scravildo….that Stan has borrowed money to fund his acquisition is fine….what he hasn’t done is leveraged the club to do so, which is what is costing United so dear.
As for strengthening this summer, well i think I have to write a post on that. Because I might be one of the few Gooners who looks at our squad and thinks maybe its not as necessary as both you and Pat make out.
Pat,
A bit of inconsistency in your post. In your first paragraph you castigate Man. City for spending money, while in your final paragraph you advocate Usmanov because you believe he will spend.
To spend or not to spend, that is the question.
Don’t forget Financial Fair Play!
TMHT do we trust Kroenke? Hmm interesting….I think whilst he is silent and let’s football people run the club I probably do, when he does a Roman then maybe not 🙂
Greetings GiE.
I will avert my Telesope from Kronke once it is clear that he will not use our cash reserves for his own purposes. i dont like the possibility of future dividends either, but could probably live with that.
Scravaldio makes some good points. The fact that Kronke has to borrow to purchase Arsenal is not bad in its self, but what is bad is that he paid a premium for his shares because he bought the lovely cash reserves. As i said, i hold the former shareholders responsible for that
Think about it good people, Fizman, Dein, Bracewell smith, made a virtue out of the fact that they didnt take dividends……Bollox, they took the bigest dividend of all time when they sold there shares because cash reserves, which could have been used for the benefit of the club, was basicly sold at a premium to Kronke. its made them very rich, and left us at the mercy of the intentions of the new owner.
Norfolk, you have lost me, where do I castigate Man City spending money??
Scravaldio
Only oilers can AFFORD to buy us in cash, since we were 3rd most valuable football clubs in the world. Arsenal is in 7th place in Forbes 50 most valuable sports team in the world, behind Howard Webb’s team who is 1st in the ranking and RealMadrid in 5th.
Cheating divers in 26th and Spuds didnt even get to 100,,haha
Sorry Pat, I take it all back, I must have imagined a different first paragraph.
You had me there for a minute.
I do not begrudge clubs like Man City and Chelsea spending the money they do, but It is nice to see it not working.
Strangely I would prefer Man Ure to win the league and continue to win the league than either City or Chelsea.
A very fine post The Rock (another product from a bit of spare time in Cannes?! You know how to have fun!) 😆
I like Kroenke’s hands-off management style, and I feel strongly it was him who convinced Arsene to buy a few experienced players to mix with our young talents. In terms of timing, last summer’s transfer deals were badly done, but it terms of what Arsenal paid for the likes of Mertesacker, Santos and Arteta, it was good business. I am sure if Arsenal had bought these players early in the summer they would have cost between £5-15m more all together). So, I can understand that business was done so late, although it backfired badly on us with such a poor start to our season.
Pat,
Much as I dislike the way both the Oilers and the Chavs are run, I just can’t bring myself to wish anything good to happen to old bacon face’s team.
How funny. I have never, ever thought of jabba as “non white” He looks white to me.
Chary
The thing about people calling jabba a Russian is partly because he’s quoted a lot as the ?th richest man is Russia all the time (even though he resides in London)
His PR department put out a story that hi was wrongly imprisoned and given a pardon by Gorbachev. Who although president of the Soviet Union is a Russian.
Jabba was pardoned by Islam Karimov. Who is a lovely man by all accounts
Thanks for the comments.
I don’t pretend to be a world’s expert on Stan, but I did do a fair bit of reading around before I wrote the piece.
Scrav
As far as I know (although I’m 100% sure) he did not inherit his wealth. He joined a property developing company and eventually became a partner before setting up his own company. That’s how he made his millions. He does have a rich wife, however.
I’m not sure I understand the “white – non-white” thing. I thought Usmanov was white. Not that it matters either way.
I think the jury is still out on Stan, but I feel more secure with someone who operates with normal business practices (including borrowing money to make significant acquisitions, which is completely standard) than being the plaything of a rich egotist.
Gn5
I know plenty about lacrosse. It was just a joke.
GM
Snap 🙂
I didn’t mean he was wrongly imprisoned by Gorbachev. Which is how my last comment sounds.
Norfolk, you’ll find me and Gooner Michael share you abhorence of ManUre – something must happen to stop the domination of League titles by those filthy plonkers who’s ramshackle stadium is in Salford.
If Arab Camel shaggers F C do win the title everyone will know they didn’t earn the right to be Champions, they just pissed an unholy amount of cash to buy the title.
GM – I’m not sure why they would call him the 9th richest russian when he neither lives there or was born there – it’s like me calling myself the 355th richest albanian.
Chary,
I just hope and pray that Financial Fair Play will do something to level out the playing-field. But I can’t realistically believe that under Platini Uefa will have the guts to take on the big spenders.
If it does Norfolk, this year(and maybe one or 2 more seasons) may be their last chance to try and buy the league, but as you say, that assumes FFP will make any difference.
Couple of quick points.
Norfolk, FFP is already having an impact.
As for Kronke, the Jury is out. I repeat, when he bought his shares he purchased a bank account of approximatly 100 million cash. He paid for it because Fizman, etc got a premium on the shares sold to him.
Lets wait and see what happens to our cash reserves in the next few years, and also what his policy will be in regards future dividends before we pass judgement…..but at this stage i can safley say i neither trust him, nor his fatso rival.
TM,
“Norfolk, FFP is already having an impact.” In what way?
GiE – your parents going to the game = we win. Right, silly me, worrying unnecessarily 🙂
Rocky – I have read the post again; mine of information, thanks for that. I still have 2 questions for you
1 any idea how much SK ears from his US sporting enterprises pa
2 how much he invests back
sorry, 3 questionsL:
3 there is more than 1 style of ‘ownership”; we have seen at least two in EPL, ie the silent Shitty owners and overbearingly present Roman. Are you suggesting that Kroenke’s active involvement would be a good thing? If so, I am not sure I agree. I would prefer that the running of the club was left to the football professionals experts, ie AW and Gazidis
Hi Norfolk,
The evidence for implementation of FFP is not an exact science, and each clubs actions will be different. However, i will give you my take by looking at several clubs current policies which determine there future strategy.
Man City: Hugh spending splurge before FFP, and the largest sponsership in there history right at the beggining of its implementation indicate a club that has outlayed on the premise of future growth. In other words, you wont see that kind of transfer activity again. There policy is now to grow a global fan base, gain champions league revenue, offload unwwanted players, invest in hugh youth programmes, and when ready increase the size of there stadium.
Chelsea: Big spending, like City, before FFP. The appointment of AVB showed there intentions in term of creating a new and young vibrant team based i believe on the Arsenal model, surprised they sacked him, but thats Abramovich for you. They are also seriously thinking of leaving the bridge for a new stadium, and this is mainly due to the fact that FFP has pushed them into a corner. interesting times lie ahead there.
Spurs and Liverpool need new stadiums, its there number one priority.
Barca and Madrid. this is a fascinating one. Upon the realisation of FFP, both clubs joined forces to scarp the spanish TV deal and secure there own independent deals. According to the bean counters this is worth in excess of 50 million or more to each club.
I in no way say that FFP is a panacea to all our problems, or that the likes of Man City or Chelsea will not procure the odd player for 30 million and pay them silly wages, this to some extent will still happen. what i am saying is that FFP is a compromise beteen uefa and the big clubs to restore financial sanity but at the same time allow them the opportunity to still grow as football clubs, e.g the exemptions to FFP extend to youth policys, new stadiums etc.
One more thing, without the shadow of FFP looming over them, i think Man City would have offered Arsenal a silly amount for RVP in the January transfer window, even Abramovich might have tried it. FFP is a good thing, even it only has a 50% impact, it will be enough for the Mighty Arsenal to take these suger daddy clubs on and surpass them in the near future.
NG in lieu of a reply from TMHT I believe you only have to look at January activity (or lack of it). We are in the first three years of measurement, what must be remembered is that any contracts agreed before Summer 2011 do not form part of FFP measurement (ie Tevez and Toure).
Hi Evonne
I’m afraid I don’t know how much he makes from his various businesses. I would imagine a lot of his wealth ($3.2 billion) is measured as being the value of those businesses – and he increases his wealth by increasing their value.
In the wealth stakes he’s a long way behind Usmanov, who’s worth over $18 billion.
But his wife is a Wal-Mart heiress who’s worth $3.9 billion in her own right.
As for whether he has invested in his North American franchises. I don’t know about the other sports, but in soccer Kroenke invested $70m in a new 18,000 stadium for the Colorado Rapids and surrounded it with 24 youth soccer pitches – the largest complex of its kind in America.
What’s the view on the Chavs, do we think they will get torn a new one by the diving cheats either side of their game against us at our place?
It might help to show a synopsis of the key principles of FFP and when it kicks in.
The Financial Fair Play Regulations, were introduced by UEFA to prevent, in particular, professional football clubs spending more on transfers, and related activities, than they earn from commercial revenue.
The idea is to create a more ‘level playing field’ by preventing clubs with very wealthy owners from making substantial cash gifts or loans to their clubs [Man City, Chelsea etc] and thereby gaining an unfair advantage over other clubs [Arsenal] run on a more sustainable business model.
The new regulations also provide for sanctions to be taken against those clubs, who do not restrict their spending within a commercially prudent budgetary framework, by ultimately banning them from competing in European football.
The regulations will be phased in gradually over a number of seasons starting in the current one (2011/12).
Hi Corky Maestro, 🙂
Fascinating Post casting a glance at the US business empire and activities of our esteemed owner.
I was particularly taken by your description of his ownership of a lacrosse team which seems to specialise in the synchronised throwing of curly dwarfs with the aid of butterfly nets.
I am sure that would catch on over here! 🙂
RA 😆
Talking of dwarf throwing, I’m sure Ozzy(Osborune) was repeatedly asked to judge those competitions in the deep south after he made part of his encore involve chucking a dwarf into the crowd, after playing the track Crazy Train, if my memory serves me right.
Chary, of course Barca will beat the Chavs. The Catalans have been uder-par in the last few weeks and still beat Milan quite easily. Once they step it up again, the Chavs will be pulverised! But I guess that is not what you want to hear?! 😉
hahahhaha, Redders, there is actuly a sport, practiced by some strange yokel types, called “Dwarf Tossing”. When i first heard the term, i excitidly went into the link, but was disapointed to find that it entails some big lump, usualy sporting a beard, throwing some poor Dwarf as far as he can. Apparantly the winner gets a barrel of cider and gets to keep the Dwarf.
I’m not sure what’s best re. the chavs/diving-cheats TotalA.
In a perfect world both would lose, but that sadly can’t happen.
I guess the chavs to go out in the semi’s(complete with plenty of Drogba hissy fits involving “It’s an effing disgrace” would be nice) and the diving cheats to lose in the final would be ideal.
Its got to be Barca Chary. I would be ill for weeks if Chelsea win the champions league.
On a side note, does any one else find Dwarfs scary? They all seem to have an evil look in there eye, or is just me? And what do you do if a Dwarf fronts you in the street?, you cant give them a smack, you would be seen as the villian, and you cant leg it either coz then you would be regarded as the man who bottled from a Dwarf.
LOL, Mr Syrup, it truly is a no-win situation you describe.
MerryTerry, 🙂
A share premium is the difference between the costs of a share issued by a company to a purchaser over and above its nominal or par value.
This is more usually associated with a company’s Share Issue process, with the attendant surplus being posted to a Share Premium Account as part of the non-distributable reserves of the company.
So, I am not quite sure what you are referring to regarding the previous owners and their “selling” of ‘our £100m cash reserves’ for a premium. They were just selling their shares in Arsenal to a willing buyer for the highest price they could get, surely?
If Kroenke was desperate to buy Arsenal, and thwart Usmanov in the process, by paying ‘over the odds’ to do so, that was simply a market value judgement on his part, wasn’t it?
I am sure you will come up with a whizz explanation! 🙂
Hi TA, 🙂
I totally arsenal agree with your comment yesterday regarding Messi.
It is frankly impossible, in any objective way, to compare players from different eras, and I freely admit that, but for my money (given I have not seen every player in the last 100 years), Signor Messi is, during my lifetime (era), the greatest player I have ever seen, or ever likely to see.
I don’t care what he looks like, or who he plays for, he is just jaw droppingly superb, and I feel privileged to be able to watch him produce absolutely sublime magic on a regular basis ! (sorry, Irish 🙂 )
Hi Redders,
Technicaly, of course you are correct. As you know, there is nothing that adds vaule to a business, large or small, than having cash in the Bank. My point is centered around the suspision, that the previous owners allowed the cash surplus to rise to a phenomenal level, i,e, 100 million, so as to increase the vaule of there shares. A quick glance at Arsenals statements for the period ended 30/11/11, and you will see a share premium account of just under 30 million, were as the profit and loss is 250 million, and of course this 250 mil is avaliable for extraction.
i dont trust Kronke, and ime upset at the former Directors that this transanction went through without provisos that funds previous to Kronkes ownership were to be maintained for the benefit of the club. i hope Kronke proves me wrong, and makes his money from capital growth, but until that point i will keep my beady on him
Thank you Rocky
I have recently talked to a wealthy Ukrainian businessman who claims to know both Usmanov and Abramovitch. I have no reasons to disbelieve him, and his wealth would tally with his stories. Anyway, the guy has no interest in football, so he could not tell me any juicy gossip, but got an impression that he thought very highly of Usmanov, but not so highly of Abramovitch. According to him, the latter is part of the Russian Gentlemen’s Society presided over by a certain Mr Putin. Memeber look after each other for return in a share of profits, nothing new there. Usmanov is not a part of it. I asked about Usmanov’s jail term and he said it was over financial irregularities, which in then Russia could mean anything, including not paying a bribe promptly.
A photographer friend who does a lot of work for Nike just gave me 4 really nice Arsenal prints. They are printed on art paper and completely matt to the point that the feel like watercolours.
On a seperate issue I’ve just been told by someone who knows that we have definitely got Podolski.
GM – never mind the nice paper, what are they showing?
I hear you Terry my boy! 🙂
I think that all fans have a concerns or suspicions over the owners of their particular clubs, unless their club is constantly winning, and even then it is often a reluctant approval of the owners.
Let’s face it, all the “rich boy” owners are in it for personal aggrandisement, others (the Glazers., Mike Ashley and Stan (?) ) are in it for the eventual monetary return, and so on.
We have reason to cast a jaundiced eye at club owners — they are not like us – are they? Well maybe you! 🙂
RA – of course the owners are not like us, they are filthy rich for starters. Can you just imagine being an owner of the AFC?? Can you? I cannot, mind boggles
You are right again Redders….i guess its just something as supporters we have to live with. In an ideal world all football clubs would have some form of trust ownership, were they are run on sound financial grounds, and any profits are reinvested back into the club. But the stone cold reality is that they are not, and unfortunitaly tend to have people like me running them. hahahaha
TA
I love your comments they always give me so much to disagree with.
You say:
“Arsenal paid for the likes of Mertesacker, Santos and Arteta, it was good business. I am sure if Arsenal had bought these players early in the summer they would have cost between £5-15m more all together). So, I can understand that business was done so late, although it backfired badly on us with such a poor start to our season.”
Naturally, I agree with the part that all three players were good business but the last bit of that comment is not quite right.
Wilshere got injured in the Emirates cup, when was that, two weeks before the start of the season? It was impossible for the club to anticipate this but as soon as they realised that he might be out for the season they bought Arteta. So that is one of the three you mention above that should not be part of your criticism of the club in so much that they acted late and we suffered for it.
The next is Mertesacker, we had a Koscielny and Vermaelen available, two perfectly able CBs so I suggest it is reasonable to say that the BFG was brought in as back up and if so would not have really mattered if he was brought early or late in the transfer window. Lastly we have Santos, remember once again we had Gibbs so the same applies as in the case of Mertasacker.
It irks me that the club got the amount of criticism that they did for their activities during last summer’s transfer window: panic buys, Wenger’s mad last minute dash, etc.
The transfer dealings were not perfect but in my view the club performed miracles under really difficult circumstances and do not deserve the criticism they receive from outside sources and absolutely not from Arsenal supporters.
Rocky, superb post as always.
I haven’t noticed anyone offering us a post today – we really need one for tomorrow and saturday 🙂
Now that was a show stopper Peaches 🙂
evonne
I have a B/W head and shoulders of Theo
A colour one of Theo sitting in what loks like a changing room (but not the curvy home changing room) A olour one of Song putting his sock on (same room) and a B/W head and shoulders of Jack. The one of Song is the away kit and the others are the home kit. They are realy nice.
GM – hmmmmmmm, but none of naked TV? And what are you going to do with them?
I have ‘an office’ in the box room full of Arsenal paraphernalia, it is really nice sitting in the old swivel chair looking at all lovely red and white junk. I still need to frame a few special shirts and hang them on the wall, to replace an ex-captain’s snap 😦
Would you like one evonne?
Evening all,
I love this video:
“C’MON FEO DO SOMEFINK” 😆
GM – what, the one of Li$a, no thank you 🙂
Irish – lets face it, you would love a church sermon if it was about Arsenal 🙂
Evonne – Arsenal is the only religion I have ha ha
I know, you little pagan 🙂 But you’d be enjoying the long Easter break, won’t you pet? Especially it being filled with mouth watering footy
I will indeed Evonne – got my Easter egg at work today – yum yum
Work tomorrow till 3.30, down to Limerick for the clash of Limerick FC vs Longford Town in the First Division football, home then for a lovely turkey dinner on Saturday and to watch the Arsenal, out to the pub that evening, home to bed, up and down to the pub again on Sunday to watch Munster vs Ulster in the rugby and that is my weekend 🙂 = awesome
Oh Irish, you are hillarious 🙂 You have no idea how much I’d love to be in Ireland for Easter again. The lambing season, the fresh green fields, sea fishing in the Atlantic….you lucky girl!
I just don’t want to hear about Munster Uslter thing, cannot understand it! Nearly ruined my last Easter in Mayo
Ha ha Evonne – yeah the rugby is big here, particularly in my local area. John “The Bull” Hayes is from around my parts, and George Clancy who is one of the main refs in the game is a local too. Pub will be hopping on Sunday.
Its cold over here these days, but not as bad as the UK – the snow in Scotland O_O
I’m going end of April, should be warmer by then. Enjoy your Easter xx
Likewise 🙂
Nice post, Rocky.
I must admit Stan the Trappist leaves me cold.
Irish,
The Arse game is Sunday.
Thanks Chas – I’ve been confused about that all week ha ha
GiE,
I see you’ve put an unfinished post in drafts. It’s much more relevant than the space filler I’ve come up with – were you intending to complete it by morning?
Hi LB,
I only just read your comment. I am convinced Arsene wanted to buy the likes of Mertesacker, Arteta and Santos all along – that their arrivals were not in response to injuries late on in our pre-season. We needed another LB after Clichy’s departure and we needed another experienced central midfielder after the departures of Cesc and Nasri, and a CB as well (although some will argue we had enough cover already). I can understand your point of view though that there was not much need to get Mertesacker and Santos as early as possible, but I don’t agree with you nevertheless.
If they had joined us in June/ early July we probably would have had a better start, as Arsenal would have had a couple of months to settle in the new players (I am convinced that Santos, Arteta and Mertesacker are all first-11 choices for Arsene, if and when all players are fit).
I believe the negotiations went to the wire in order to lower the price of the players as much as possible. For me that is sound financial business in itself, and I would have done exactly the same – hoping we could make a good start with the players already in the team. But we did not and it cost us. That is just my view LB, but I have not been overly critical of the BoD for the transfer dealings.
Hi TA I’m not sure about santos. I think we were going to have Gibbs and traore until the manc game, traore went 2 days later. I think if Traore had played well he would have kept him. But I’m drunk so I may change my mind when challenged 🙂
Morning all
Just a little clip from Russia to start the day
I love it, I remember times when fun was forbidden in Roseeya
Rasp,
I didn’t plan too as I thought the other one would go today.
I’ll finish it up for you now.
It is lucky I cannot post pics as a wee snapshot out of the window from where Im sitting and no-one would speak to me again.
Oh, alright. The very south western tip of Ireland, and I am looking at five islands poking out of the Atlantic. The early morning sun makes them look rubbish.
Micky!! But you will never make it back for the game on Sunday! They might not even be showing it in Eire 🙂 Where are you, Tralee or Tramore?
Skibbereen
TA
Thanks for taking the time to reply. Your view makes a great deal of sense; although, we differ slightly on the effect of when those players were brought in but hey ho.
GiE – can you text me when you’re done 😉
I have to walk the dog, so I’ll be back in about 40 minutes to sort today’s out.
Good Morning .
peaches please don’t forgt my request. I have had more tests than Red arse has in a year, and have been layed low,anyway I am no financial wiz kid with regards to the Board at Arsenal but there are a ot of assumptions being made.
The only reason Fiszman sold to Kroenke was a) his family didn’t want the shares . fact b) to stop Usmanov getting a bigger share holding, yet this is the very man that Hill Wood said eighteen months before “that we don’t want your kind here” refering to Kroenke.
A lot of conjecture as to why David Dein sold his shares.No doubt he made a fortune but at the same time I cannot think of any person who was or is on the Board that is more passionate and through and through Arsenal.
Lady Nina is a strange one. What really happened with her. Another person who didn’t need the money.
IMO the club are relying far too much on th FPP but I believe that apart from Podolski (if it happens) there will be no other signings only a clear out of many players on big wages who no longer have a future at the club and regardless of any transfer fee it will reduce our escalating wages and those who are fundamental to carry the team forward and nearing new contract negotiations will be rewarded by a hyke in wages.
If we finish third,fourth or fifth will have no baring on this policy.
Kroenke is only at our club to show a return for his I.O.U’s. We have players having a short Summer break with the Euros, the under 21’s and the Olypmics(possibly). The Emirates Cup has been cancelled and we are going to the Far East. Not really a rest period for many.
We can only support the club but I feel it might be a good few seasons before we reap the benefits.
Personally I don’t think the American or the Russian are right for our club, but for different reasons.
Kelsey its Nigeria this year for the pre season isn’t it?
Other than that theres not a lot to disagree with up there.
Peaches its done.
Oh is it, I got that wrong,but we have the ANC as well at the end of the year as they have changed the schedule.
http://www.guardian.co.uk/football/2012/feb/06/arsenal-tour-seoul-beijing-hong-kong
Actutally we are both right so even more football and long flights in a crammed schedule.
Well that definitely fits the view that Silent Stan likes to “sweat the badge”
I understand that kroenke wants to spread the word in those areas of the world purely for merchandising but “new age fans” want to follow a team that wins trophies and are flavour of the month.year or whatever.nothing wrong with that but then he has to implement part of what I said at 9.02.
Morning all again
New Post ………………
kelsey – sorry to hear you’ve not been well 😦
True Kelsey, no doubt a portion of our overseas fans follow Arsenal because of our successes in the late 90’s.
The Internet makes the world much smaller so those overseas fans can “connect” with the Arsenal family so much easier than in the past.
Morning Kelsey, 🙂
I have been moved from ‘tests’ to weekly ‘procedures’ for the foreseeable future — horrible — and the worst part is that unlike you, I am a shivering, lanky coward in front of all the wonderful tiny nurses!! 🙂
You used different words but we are in agreement on ‘sale/purchase’ of the club shares between the old guard and Kroenke.
I see nothing wrong with Arsenal playing pre-season friendlies all over the world. Gives other far flung fans a chance to see their team; earns extra revenue which can be invested back into the team. It’s all good and a step up from Austria, n’est-ce pas? 🙂
Fitness Reader…
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