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Chairman: Arsenal has spending limit
Source: AFP |
September 6, 2012, Thursday
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ARSENAL chairman Peter Hill-Wood has admitted the club "can't compete" in the transfer market with rival Premier League teams. However, he insisted the Gunners could still challenge for the title and that manager Arsene Wenger was not under pressure to end a trophy drought.
Hill-Wood added he was "disgusted" by those fans who verbally abused French manager Wenger, in charge at the London club since 1996, last season.
"Arsene has money to spend but there's a limit," Hill-Wood told Tuesday's London Evening Standard. "We can't spend 50 million pound on one player.
"At a certain level, we can't compete. I don't think (Arsenal majority shareholder) Stan Kroenke is going to put the sort of dollars in that (Roman) Abramovich or Sheikh Mansour are putting into Chelsea or Manchester City. That's not the way he thinks clubs should be run," Hill-Wood added. "Luckily, Arsene understands that. He got an economics degree from Strasbourg University so he's certainly no fool. He knows how a club should be run.
"That annoys a lot of people but clubs have to be sustainable. We're not going to go bankrupt in the way one or two other well-known clubs have."
Hill-Wood cited the example of Scottish giant Rangers, now playing in fourth-tier after entering administration, as "something we've all got to guard against". "They spent far more money than they could afford. We're ambitious enough but we're not going to end in the same plight as Rangers.
Hill-Wood added he was "disgusted" by those fans who verbally abused French manager Wenger, in charge at the London club since 1996, last season.
"Arsene has money to spend but there's a limit," Hill-Wood told Tuesday's London Evening Standard. "We can't spend 50 million pound on one player.
"At a certain level, we can't compete. I don't think (Arsenal majority shareholder) Stan Kroenke is going to put the sort of dollars in that (Roman) Abramovich or Sheikh Mansour are putting into Chelsea or Manchester City. That's not the way he thinks clubs should be run," Hill-Wood added. "Luckily, Arsene understands that. He got an economics degree from Strasbourg University so he's certainly no fool. He knows how a club should be run.
"That annoys a lot of people but clubs have to be sustainable. We're not going to go bankrupt in the way one or two other well-known clubs have."
Hill-Wood cited the example of Scottish giant Rangers, now playing in fourth-tier after entering administration, as "something we've all got to guard against". "They spent far more money than they could afford. We're ambitious enough but we're not going to end in the same plight as Rangers.
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