NEWS:STAN KROENKE has defended his running of Arsenal in the face of heated opposition by fans at yesterday's agm, where questions were raised about whether the club was being run more for profit than sporting gains.
The majority owner, the chief executive Ivan Gazidis and the chairman Peter Hill-Wood were all heckled at the meeting as they justified Arsenal’s financial strategy and long-term vision despite the failure to win silverware since 2005.
Arsene Wenger used his address to calm what was becoming an increasingly tense debate in which one shareholder even accused the board of “ruining the club”. Kroenke was also asked whether he intended to take dividends out of Arsenal and responded by saying it was a decision for the board.
Later he clarified his ambitions via the club’s website. “I am ambitious for the club and we all share the same goal,” he said. “I can assure you no one is more ambitious than me. Arsenal is a tremendous club with a track record of consistent performance at the top level. That is very rare but we have managed it. I know that will continue as we move forwards. We have an exciting future and our goal is to win trophies.”
That is the first time since the American sports mogul began to invest in the club in 2007 he has publicly given any indication of his priorities for Arsenal. Kroenke, who owns almost 67 per cent of the club, pointed out he had a record of investing in his sports clubs and defended his involvement with Arsenal. “I have never put debt on the club, I have never said in any meeting that money wasn’t available,” he said.
The meeting was tetchy enough for Wenger to call for unity. Topics from the floor included the suggestion Robin van Persie was sold for profit, a question about whether Alisher Usmanov’s millions are resisted on principle, and an explanation sought for the bonus paid to Gazidis.
One shareholder complained the approach of the board was “putting profit before performance”, which prompted Gazidis to argue Arsenal’s business model will succeed once they come through what he calls a challenging time.
Gazidis predicts that in two years, prospects will look very different from Arsenal’s perspective, with the effects of Financial Fair Play and the upcoming commercial deals which will be renewed in 2014 putting the club on a much more favourable footing.
Wenger, who admitted he ranked Champions League qualification higher than winning the FA Cup, said: “It’s sometimes emotional. I think as well, it’s a lot guided by fear . . . It is still important we keep our strength and stay united for the good of Arsenal. Sometimes you can forget that.”
Guardian Service
