Is Arsenal’s summer of contentment nearer than we think

When the Emirates was built, supporters were told that the  oval was going to allow Arsenal to compete with the biggest names in Europe. The revenue generated from this crown jewel of London stadia would provide a cash stream that would make the Gunner one of Europe’s envied elite.

It’s not really worked out that way has it? For the most part, the way it was laid out to the supporters in it’s infancy nothing was mentioned that the club would tighten it’s belts and put strict financial controls in place manage it’s debt. Additionally, funds from the early Nike and Emirates deal, paltry by today’s standards were used almost in their entirety at the outset of the deals to aid in the club’s debt management. So regardless of how small they were there wasn’t even minimal funds to help.

It became evident early on and stated by David Dein in 2007 before the transfer window opened – “Arsene has to sell before he can buy.” We know where that has led us. The likes of Flamini, Hleb, Adebayor, Nasri, Fabregas and Van Persie have all provided funds into the kitty that have allowed Arsenal to remain in the black and buy minimal talent on a threadbare budget. Remember, even though X-player may have been sold for £24 million and Y-player bought for £12 million, there is still the matter of wages. So the £24 million may be used not only to offset the transfer fee but also the wages.

There is prevailing thought among some that this is the master plan of Arsene Wenger’s. He bares the blame for not buying. But as I read through Alex Fynn’s amazingly good book “Arsenal; The Making of a Modern Superclub,” one thing early on in the book is that the financial constraints are not of Wenger’s doing. He may be willing to comply by them. But they are not of his own making.

Now some will want to argue that Fynn’s book is a fluff piece intended to make Arsene look good. But as much praise as there is in the book, there is equal enough criticism, from Arsene’s total control approach to criticisms of his preparation for matches and sub management (just to name two.) Whatever you opinion it’s hard to not appreciate what Arsene has managed to do under the directed constraints.

Yes, Peter Hill-Wood did say that they once quizzed Arsene that if they gave him a £100 million – would he spend it. The story is well known he’d give it back. But further in Fynn’s book is a more telling statement by Wenger. One to me that he longs to have funds at his disposal to compete with the likes of United, Chelsea, City and others for players:

“What I want is to put this club on a level  where we have a 60,000-seater stadium and if the manager or the board takes the right decision we can compete with everybody in the world.”

“At the moment I am sitting here  – if Milan or Man United or Real Madrid is after the same player I say thank you very much I’ll go somwhere else. And I want one day that the manager – if it’s me or somebody else – can say ‘OK how much is it? I can compete.”

Not really the words of someone who is happy to be saddled with the constraints but is nontheless willing to comply and do what he can to make it work. And on one level he has. The club knew early on that Champion’s League qualification at a minimum was needed to help with the financial constraints.  He has delivered what he has been asked, a continual cash stream based on qualification in Europe’s elite tournament. 16 years possibly more. Success in the eyes of the board. Not so much in the eyes of many supporters.

But is everything about to change?

It has been wacky week in football. First it’s leaked that Arsenal are dropping Nike in favor of Puma for a kit deal estimated at £170 million over 5 years beginning in the 2014 season. Then the entire football community was rocked with the sudden retirement of Alex Fergueson. Additionally rumours galore circulate United as Rooney has now asked to leave the club twice and Rio Ferdinand was announced as part of BT’s new commentary lineup for its’ Premier League coverage, which could imply he is retiring as well.

United’s dominance as guided by Fegueson and the possibility of Arsenal having more cash on hand than it has ever certainly makes things look up for the Gunners. It’s always argued that United have only been good recently because of the will, determination and skill of their manager – more than their players. Now every team, like Arsenal will get to see if that axiom holds true. If so, with armed with cash from the new Premier League rights deal £40 million, the initial cash infusion from the new Emirates deal £30 million, and the reported £70 million existing cash in hand, Arsenal could be primed to challenge for honours again (as could the other usual suspects – but it’s Arsenal we’re discussing.)

Let’s take Wenger at his word as previous quoted – that he wants one day to be able to compete for talent like the other clubs with unlimited wealth. If all these figures are true, than it seems this summer he will finally be able to do that. He will finally not have to turn away from a player simply because the likes of Chelsea, City, Milan and Madrid (and others) are also at the table. He now has that clout at his disposal.

People will argue he won’t spend. “He never spends” they say. True, but its clear that he never spends because of the restrictions placed on him. He has to sell before he can buy should no longer be the guiding principle Wenger goes about looking for talent. Even if Arsenal should not make the Champion’s League this season, the financial outlook would adjust slightly to the available funds to cover the loss but it would still afford cash available to make transfers.

Arsenal have been hoarding their cash for some time. They’ve been telling us that they are on the cusp of being able to compete with Europe’s elite and stay there. We and I say we because I am just as skeptical, have heard it all before. But the two new commercial deals plus the new Premier League TV rights deal certainly helps Arsenal get into a level that they’ve not been able to compete at, even though they told us about all those years ago.

With so much changing in football, maybe we’ve been wrong. Only time will tell if “Arsene knows” and we don’t but it will certainly be an interesting summer. (Fingers crossed)