

Profits before people… Can I get a mic check?
By: Brenton | February 8th, 2012If there’s one thing I’ve learned from the Occupy Wall Street movement, it’s that all the protests in the world (bin bags, black scarves, etc) mean nothing in the face of the capitalist juggernaut.
Yesterday Arsene Wenger went on record saying that rather than buying Eden Hazard for 30 million pounds/euros (depending on which story you read), he had to show a fifteen to twenty million pound profit. Every season.

Photo credit: PHILIPPE HUGUEN/AFP/Getty Images
I understand the need to keep the club financially stable, secure, blah blah. And hopefully with good commercial deals that annual profit will be reachable more easily than it is now and allow for bigger transfer spends. But it’s the inflexibility that bothers me, not to mention the likelihood that Hazard (for example) would improve the team and have us in 4th with the security that Champions League revenue will bring.
Now, before anyone freaks out, let’s remember that this year Wenger and the club spent more than in any other year, something like 53 million pounds. That’s a massive spend for us. On the flip side, we also made more in player sales than we ever have, and have a net profit of ~17 million pounds. Bother.
What’s interesting is that in four of the last six seasons (including this one), we’ve made a net profit from player sales. Not once in the six seasons before that did we make a profit. We are, without a doubt, a selling club. Ouch.
Ain’t no power like the power of the people cuz the power of the people don’t matter.
This was a smart move by Wenger, though, and will focus more attention on how the Board run’s the club.
Djourou re-signs
And in other news, Jonathan Djourou has signed a two-year extension, keeping him at the club until 2015. Djourou took a lot of flak for the recent loss to United, and hasn’t had a good season, but I think he’s a good centre back that likely needs a run of games like he had last season when he impressed. Unfortunately, he won’t get them unless we face another injury crisis at the back.
Some Related Stories:
-
LachlanS
-
Darren_V
-
brenton
-
Will
-
brenton
-
Gigi_man
-
Felegy
-
Perry S.
-
mystic
-
Will
-
Perry S.
-
WavefunctionCollapse
-
brenton
-
Will
-
Guest
-
Guest2
-
Guest
-
Guest3
-
Guest
-
Perry S.
-
Mike Howells
-
Guest
-
Mike Howells
-
Tfyoung
-
Guest
-
Will
-
LachlanS
-
Mike Howells
-
LachlanS
-
Zadster
-
Patoux21
-
bobjcanada
-
Darren_V
-
Mike Howells
-
Martin
-
Mike Howells
-
Darren_V
-
Will
-
LachlanS
-
Will
-
Zadster
-
LachlanS
-
Mike Howells
-
Axel











