The longstanding battle between Stan Kroenke and Alisher Usmanov for control of Arsenal seems to be tipping in the American’s favour, as he upped his stake in the North London club to 28.3% after securing the shares from RCL Carr, Clive Carr and Lady Sarah Phipps-Bagge.
This has put him back on top of Usmanov, who owns around 25% at the moment.
Last week Arsenal’s board rejected a proposal from Usmanov which would have raised £100m, a figure the Russian was prepared to underwrite. This instant cash would have enabled the club to reduce the debt caused by the building of the Emirates, and given Arsene Wenger a large enough amount to invest in further big stars to strengthen the side.
That will not now happen, and although Usmanov is thinking of calling an extraordinary AGM, it is unlikely to change their decision.
The Russian billionaire believes the cash is neccessary to stop Arsenal dropping further behind Chelsea, Man Utd and Liverpool, and to hold off the challenge of Man City.
Usmanov released this statement after the rejection of his proposal: “The board has informed us they are confident that they have adequate financial resources to support the manager to strengthen the squad, to weather the property downturn, to renegotiate the Highbury Square loan on good terms and to deal with the continuing difficult economic conditions,”
“We do not share their view, though are prepared to give them the benefit of the doubt for the moment.”
The Arsenal Chief Exec, Ivan Gazidis, explained the Arsenal board’s view thus: “The Club, supported by the talents of Arsène Wenger, has embarked on a longer-term strategy of building its team rather than buying it. There’s a football graveyard of clubs that have not adhered to these principles and have unfortunately suffered the consequences. Our responsibility is to build the Club so that it can be successful, not just this season and next season, but also ten and even twenty years from now.”
But does this policy mean that Arsenal that certainly can’t challenge Man Utd and Chelsea for the foreseeable future?
Ask any top manager in the world, and they will tell you that you need a blend of sturdy experienced players, and youth and speed, to make any inroads into the top prizes.
We all know that Wenger is an amazing coach that can mould promising young players into a force to be reckoned with, but his same philosophy seems to be that you need youth with a little experience, and even younger players ready to take their place!
For his very young team to have come fourth in the Premiership, and to reach the semifinals of both the Champions League and the FA Cup but waiting for them at that stage were their nemeses, Chelsea and Man Utd, ensuring they could progress no further.
Wenger promised that he would bring in some experience this summer, and the early capture of (the largely unknown entity) Vermaelen went a little way to give the fans hope, but missing out on Felipe Melo, who was exactly what Arsenal needed, has raised the spectre of another unproductive transfer window.
Do Arsenal fans think that Wenger can squeeze some more improvement out of his youngsters to challenge for the title?
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Simple answer….Yes it will!
Simple answer….No it won’t!
Wenger has been saying for years that these same players,who are not as young and inexperienced that he claims they are ,will win trophies.
Most sensible supporters can see through that a more physical presence is needed in the sidew to compete with the other top sides. Which means sacrificing a few sacred cows for Wenger, he seems however ,despite what he keeps claiming, reluctant to change his policies . Just how real these enquires are for top experienced players is a matter for conjecture .More to appease disgruntled supporters than to actually buy them is what many suspect lies behind these ‘attempts’ to buy players that never materlize. Arshavin was the exception to this , which was brought on by desperation due to the danger of missing out on the Champions League. It looks like a case of normal service resumed now though, with some unknown Belgian defender and perhaps another young player signed on the cheap being all that Wenger will add to his squad of losers. The fact that they play attractive football now and then doesn’t change the fact that they are not winners.
Arshavin is not a desperate buy. A target in the summer of 2008 or even before, but in typical Wenger style, at a reasonable price. We were fortunate that Arshavin wanted to join and made sacrifices to do so. I would say that we will be challenging very strongly at the very least if Rosicky plays as well as he did before his injury. To me, his absence was a big factor in our slump in 2007/8, much more that Eduardo’s injury and Gallas’ antics.
Thank you for very good analysis.
The Arsenal board is embarrassing fans and is a big letdown. I remember there was time our chairman said that the club had enough funds for transfer. Where are these funds? The chairman lied to the fans and public. From what has recently been happening, Prof Wenger is not being supported by our board. The board members are not even ready to support injection of new players.
For the board refusal of rights issue, why can all board members each contribute $20 million towards the purchase of players? Hillwood and Kraonke should lead the process…followed by Fizman if they have the interest of the club.
The club is about fans and Arsenal fans should demand for action or board to resign. Last AGM fans reacted angrily to Pro Wenger and I now believe that Prof Wenger was clean and this guy is very innocent. He has no funds to strengthen the squad. All fans that critized Wenger need to apologize because is the stumbling block is our mean board but not Prof Wenger.
Rights issue was a noble idea because the club is heavily indebted with choking debts. When will this debt be cleared? I propose that this mean Board should reconsider rights issue again. They should rethink about the club future. My suggestion for rights issue should have been as follows:-
1. No single shareholder should be allowed to own more than 29%.
2. Fans should be given the opportunity to at least buy a share originating from rights issue.
3. Underwritten rights by Usmanov to be sold to the fans once they are allowed to trade.
I support Usmanov proposal because this could be the only way to reduce debts and re-enforce the squad. I have the following two proposals that can be considered by the board:-
1. Proposal – Adopt Usmanov Proposal with insertion of certain clauses
I suggest that the rights issue should be in the ratio of 1000 for every one share held at a price of between Sterling Pound 100 – 1000.
2. Proposal – Issue Additional Shares to raise Sterling Pound 5 billion
The club should also issue additional 500 million shares that should be allocated to fans only at a price of Sterling Pound 10 per share. This option can raise Sterling Pound 5 billion that can be used for paying off the debt, buy new players, develop global brand name and increase distribution outlets to all over the world.
The unsubscribed shares can be underwritten by Usmanov or any other investment bank.
our board is so paranoid its shameful. instead of considering how to strengthen the team and the club’s brand name,each is more concerned with making sure the other member doesn’t get one over him,not even trusting clauses to deal with their fears. unfortunately the club is worse for it.yes we’re falling further behind our english rivals.
fans join of pray our club doesn’t become the next newcastle