Crossroads: Debt goes one way, wages will go the
other, says Arsene Wenger
Arsene Wenger has warned that
Arsenal's frugal approach in
the transfer market could last another 20 years.
The manager has repeatedly had to defend the club's
cost-conscious approach while the trophy cabinet remains bare and
has now said there is no way out in the foreseeable future.
Arsenal's move to Emirates Stadium has saddled them with a debt
of £239 million and annual payments of £20m on a 'mortgage' which
is not due to be paid off until 2031.
They are generating profits in other parts of the club's
business but the problem is stretching an annual wage bill which
had already reached £110.7m by the end of last season.
'Yes, the wage bill approach will stay the same until the
stadium is paid off,' said Wenger. 'But when it is we can go a bit
higher. We can never be dominant in the transfer market because it
is never just the money you spend to buy players, it is the wages
as well.'
They made £56m overall in the year to May and have cleared all
debts unrelated to the stadium, but profits from the football
operation are expected to drop.
So free signings, such as Marouane Chamakh, and the focus on
youth are here to stay.
Wenger believes they will take what would be a 'significant'
step forward by winning at Chelsea today and has urged his players
to forget their neighbours' acknowledged superiority.
'I don't believe in history,' said Wenger, aware Arsenal have
beaten
Chelsea just twice in their last 15 meetings.
Wenger has just served a touchline ban but claims he was just
unlucky to be caught.
'In the 14 years I have been here and walked up and down the
corridors I have seen people who have lost it much more than
that.
'It depends if you are caught on camera or not.'
So was Harry Redknapp right when he said the studious Arsenal
boss has been driven nuts by life in the Premier League?
'Frankly, no,' said Wenger. 'I was already passionately crazy
about football and that has not changed. All managers are mad.'
