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Manager Wenger reveals his financial frustration at Arsenal
Last updated at 23:31pm on 06.07.08
Arsenal boss Arsene Wenger has revealed the burden of meeting the payments for the £360million Emirates Stadium means the club will need to sell a big-name player annually for the next 17 years.
The financial situation at Arsenal is likely to force Wenger to sell Emmanuel Adebayor this summer, while the future of Alexander Hleb is also in doubt.
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Adebayor's future remains in the balance
Wenger was also forced to concede the days of Arsenal competing with Manchester United and Chelsea for signatures of the world's biggest stars are gone.
Outlining the harsh realities of life at the Emirates, Wenger said: 'The strategy of the club is to sell every year and to buy less expensive players.
'We manage at Arsenal to maintain all our football ambition, national and European, while having to free up - for 17 more years - an annual surplus of £24m to pay for our stadium.
'The club's strategy is to favour the policy of youngsters ahead of stars and to count on the collective quality of our game.'
Wenger could increase his transfer kitty with the sale of Adebayor to Barcelona for a fee in the region of £30m.
Hleb is also a target for the Spaniards, although deals for the pair would be dependent on club president Joan Laporta defeating a vote of no confidence, with the result due late last night.
Blackburn's Roque Santa Cruz remains top of Wenger's wish list.
Reader views (2)
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Don't quick understand a few months back at the Club's annual financial meeting that the Club's financials are very good and is the richest club in the world. AW will have all the money he needs to buy players & to strengthen the team. Now we're told that AW has to sell before he can buy owing to the servicing of the Stadium's debt for 24 million sterling each year. Just don't understand at all.
- David To, Hong Kong, China.
I think Wenger is a very astute manager, who realises it is best to plead poverty when purchasing players. The payments for the the stadium loan are easily covered by the additional revenue generated by the increased capacity at the new stadium, the loan is also being reduced/offset by the continuing sale of the properties at the old stadium site & surrounding the new stadium. Wenger is sensible enough to purchase & develop young talent, rather than purchasing players slightly older at astronomic/uneconomic prices. He sells stars past their best at absurdly high prices to foolish clubs, then replaces then at a fraction of the cost. Well done Wenger!
- Rob Gooner, London, England
17°c
