Arsene Wenger
Wenger – We are paying back our stadium debt
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By Rob Kelly
Arsène Wenger has clarified his comments about needing to make money each summer by reiterating the Club’s obligation to pay off the debt of the construction of Emirates Stadium.
The Arsenal manager was quoted in a Belgian newspaper earlier this week, speaking of an “imperative” to generate a profit of at least £15 million to £20 million each season.
The Club operates effectively with a robust, self-sustaining business and cash reserves for player transfers, but the Frenchman is aware of the need to keep on reducing their 'mortgage'.
“I am surprised that you are surprised," he said at Friday's press conference. "Do you think the target of the Club is to lose money? That cannot last a long time. The target is to make a profit. It looks normal for any company in the world, so I don't know why it is surprising.
“We want to pay the debt we owe from the stadium we built, that's around £15 million [per year]. So it's normal that at the start, we have to make at least £15 million or we lose money.”
Wenger insists he does not feel that his hands are tied in the transfer market due to the financial requirements of the Club.
“I accept one basic principle for every company; that you can spend the money you make,” he said.
“It always looks like a massive surprise that I have to convince you of that. I think it is just natural common sense and logic.
“It is mathematical logic that what goes out has to equal what comes in. If that does not work then the company loses money.”
[Friday, February 10, 2012]
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