New Arsenal chief says Gunners are beating the credit crunch
New Arsenal chief executive Ivan Gazidis has moved to assure fans the club is on a sound financial footing, despite the global credit crisis. The 44-year-old, who previously worked in America as Deputy Commissioner of Major League Soccer, said he has been
New Arsenal chief executive Ivan Gazidis has moved to assure fans the club is on a sound financial footing, despite the global credit crisis.
The 44-year-old, who previously worked in America as Deputy Commissioner of Major League Soccer, said he has been impressed with the club's robust financial position since taking up his new role last month.
He said: "You can never say anything in life with certainty but the uncertainties which surround Arsenal are far less than which surround the world in general these days.
"We have an incredibly solid fan base and a long waiting list for season tickets and we have got our own stadium which holds 60,000 people.
You may also want to watch:
"So we are well positioned in relative terms, but it does not mean we can sail along as if nothing has changed economically because that is unrealistic."
Speaking just before it emerged investment firm Red and White Holdings, co-owned by Uzbek billionaire Alisher Usmanov, increased its stake in the club to just over 25%, Gazdids said the club remains self-sufficient.
Most Read
- 1 Jeremy Corbyn launches Peace and Justice Project with calls to action
- 2 Arsenal 'showing maturity' says David Luiz
- 3 Is lockdown working in north London? Here's what the latest data tells us
- 4 Homeschooling in lockdown: Top tips for a north London parent
- 5 O2 Centre: developer Landsec 'looking to re-provide' Sainsbury's
- 6 Joan Bakewell fires legal threat to government over second Covid jabĀ
- 7 Royal Free's critical care beds 98pc full as Covid-19 cases top 500
- 8 Ozil set for Arsenal exit
- 9 Letters: Local business, vaccination, Abacus and The Ponds
- 10 Ozil travels to Turkey as Arsenal exit looms
"It is very important to this club that it is run on a self sustaining basis," he added.
"What that does is release you from the day-to-day pressures of anything that may be happening at board level.
"The club effectively functions as a club independent of what ownership changes may take place.
"That in itself lends a stability to what we are doing here, so I focus on what the club's needs are and Arsene (Wenger) is able to do the same."
1