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New Arsenal chief says Gunners are beating the credit crunch

PUBLISHED: 09:34 19 February 2009 | UPDATED: 15:57 07 September 2010

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.

"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.

"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."

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