My take on what the important highlights are (and I’m going to have to pore over this some more at work today):
-The Highbury Square debt is down from 35MM pounds to 13MM pounds in the last 6 months. It’s clear now the club will have profited nicely from this, although it took a bit longer.
-Unrestricted cash was up 10MM from the last statement to 80MM pounds.
-In terms of transfer kitty, I think a good stab at arriving at a figure would be looking at the unrestricted cash of 80MM and netting out the 45MM of debt that is due within one year. So at the moment, if I had to guess I’d say we have 30-35MM for the summer transfer market.
-Sales and profit are both up nicely year-over-year, though match/gameday revenue was down slightly (probably due to one or two fewer matches, or just the economy)

So I guess we should expect to go into next season with no Highbury Square debt and pretty much just the mortgage at the Emirates which is going down at a nice pace. Things are good, yes. It obviously can all change overnight with a dreaded leveraged buyout.

I hope Arsenal don’t forget that Shawcross is a sneaky bastard.

This is how a well run football club operates. One Arsenal blog site is raising a lot of nefarious issues about where this money is going and why, ie. to reduce our debt before a final Kroenke move.

Is JT immune to public ire?

I want to draw attention to this gutless, cowardly piece of tripe in the Daily Mail which is not surprisingly unsigned:

http://www.dailymail.co.uk/sport/football/article-1253887/SPORTSMAIL-COMMENT-Wayne-Bridge–weak-men-dont-win-World-Cups.html

In the immortal words of Robbie Savage: “you haven’t played the game so you don’t know…”

With all that has happened to Wayne Bridge, he doesn’t deserve the criticism that been leveled at him from all corners including Martin Keown.