terraloon said:
See for me this is where Arsenal supporters just can't see the wood for the trees and I have to applaud the owners for being able to con so many of them
Time after time they talk about not being able to spend yet somehow have built up cash reserves of over £200 million. Ok about 10% of that has to be let in reserve under the terms of their bonds but year after year they went on a PR crusade telling everyone and their daughter how wonderful they were to produce these large profits and what did they do with the money? Quite simply put it in the AFC piggy bank while supporters fell hook line and sinker for the old line that they didn't have funds to compete and lined up to pay the highest ticket prices in the country because they have a shiny new stadium
The real kick in the pants is going to come when someone licks their lips and breaks open Arsenals piggy bank to put the dosh in their piggy bank and I am not talking about a couple of million
I suggest a good read is the bid document produced by KSE and also the point re the cash reserves
Here's the thing - the con may have worked on some Arsenal supporters, but not all. I'd say not even most. The years of super high ticket prices and close to zero net spend sparked huge fan discontent, see the almost militant Black Scarf Movement:
http://www.blackscarfafc.co.uk/. It's another matter that many of the most unhappy fans have been priced out and replaced by less raucous fans, so the club doesn't really give a shit about them. What's important from the club's perspective is seats sold, rather than filled, regardless of the muting effect it has on the volume insidethe stadium. Financial shenanigans have not gone unnoticed by fans, see here:
(<a class="postlink" href="http://a...g.com/2014/09/kroenkes-mo ... pstanding/</a>).
Over the long spell of austerity fans were constantly wondering why Arsenal's financial reserves continued to grow healthier and healthier, while the squad seemed to get weaker every season. To make it worse, the coropates at the club repeatedly insisted that they were making the funds available to Wenger, and by around 2011 and afterward they were saying that the stadium debt was no longer a burden and was not a reason for inhbiting spending - that led many to wonder if it was Wenger who made the decision not to spend enough to challenge for the title, or indeed, even to secure top 4 in a comfortable manner. We wondered what held him back. A misplaced sense of financial principles? We didn't care, we just wanted to win things, and for that we needed better players. Wenger studied economics at University, if he chose not to spend it wouldn't have been out of ignorance. It was during this period that a lot of fans turned on Wenger, called him stingy and insultd him for treating Arsenal's finances as if they were his own. The chant 'spend some fucking money' became common (yes, I'm anticipating a city fan replying to this with the 'you can't buy class' image. It's as natural as the rising of the sun in the morning).
Personally, I think Wenger was made the fall guy. He was made to absorb most of the negativity in the period when the club really had to cut back in order to pay the stadium debt. I think prudence required the cutbacks to last longer than the club acknowledged, but the fan backlash was directed at the mangaer, because the board raised its hands and said the money is available. If it was always available, why has Wenger suddeny started spending large sums only since last season, while maintaining a net spend smaller than most clubs in the Premier League over the past decade? I suspect that the board lied and Wenger was willing to take the hit. That's just what I think though.
For much of the last ten years, Arsenal really were the same movie every season - long spells of shit, then a good run, salvaging top four. Embarrassing exits in the cups season after season. The reason Arsenal fans are feeling a little more optimistic these days is that last season we saw a different picture. Like all football fans, all we can do is hope the good parts outnumber the bad in the near future.