Arsenal Financial Report 2009
I just spend an hour reading Arsenal’s 2009 financial report and with all the financial wizardry they are doing it looks like Goldman-Sachs is in charge of our accounting — and I don’t mean that in a good way. The report raises more questions for me than it answers.
- Football turnover went up £18m but profits from football increased only £200,000
- Property sales went up £73m from last year, yet profit from that only went from -£3m to + £5.6m
- Exactly how much money player trading generated or lost is obfuscated beyond belief. At one point, they actually claim that Arsenal spent £41m buying players in 2009. At another point they claim that Arsenal generated a profit of £23m from player sales. And at a third point the accountants say that Arsenal spent £20m on players in 2009, which they then subtract from the £23m number above to get a grand total of £2.9m in total profit on player sales.
- And the thing that sticks in many people’s craw is an undisclosed expense called “other operating costs” which shot up from £46m to £55m. They explain the increase as retail costs, utilities, staging the Emirates Cup, and currency exchange losses but the thing a lot of supporters want to see is an actual breakdown of those costs and not just some glossed over explanation of the increase.
It’s a really huge report, with some conflicting data and while I’m willing to concede that I might just be a bit thick I also get the distinct feeling that the board is not being entirely forthright about some things. What exactly they might be hiding, I don’t know but there is something strange about this report. I can’t quite put my finger on it, maybe one of you smarty pants who earn 2 to 3 times my salary and can kick my ass if I lived in New York could read the report and tell us what you think?
Arshavin’s Web Site
If you haven’t already, you really need to go over to Andrei Arshavin’s web site and read his responses to the fan mail he gets. My favorite example from Monday’s batch is this:
Hi, Andrey, I love arsenal and helicopters. My friend, Steve, said that he met you once and he said you were very nice but you smelt of coffee. Do you like coffee? He also said that he held your hand. If I met you please could I hold your hand, I promise it will be no longer than for 3 minutes. LOVE FROM ANTHONY, 28 ENGLAND.
Аrshavin: I don’t drink coffee at all.
Andrei deftly side-steps the whole hand holding and helicopters bit and dives straight into the heart of the matter: he doesn’t drink coffee!
You can’t make this stuff up.
The Final Word on Shawcross’ Assault on Ramsey
Fox Soccer Channel’s commentators can be a bit hard to swallow for us Yanks some times, but here’s once where they get it dead on. I’m warning you now, this video shows Shawcross’ assault multiple times and from multiple angles in order to emphasize Bobby MacMahon’s point that the Ryan Shawcross “tackle” wasn’t a tackle at all but as he puts it “a scythe.”
That video shows definitively that the tackle is not a 50-50 as many people are claiming and that Shawcross actually sweeps through the leg of Aaron Ramsey, playing the man and not the ball.
Anyone who claims that Shawcross’ assault “wasn’t even a yellow card” or is somehow equivalent to Gallas’ 50-50 is either a mentalist, a low-life scumbag, or as Grimbo put it a cuntbucket.
Speaking of TV
My American readers know that Setanta in the USA has lost their rights to EPL games and that Fox Soccer Channel (FSC) has opened a second channel called Fox Soccer Plus (FS+). Unfortunately, FS+ isn’t being carried anywhere at the moment which means that any EPL games played on FS+ are basically going unwatched.
Previously, I was hopeful for us Gooners because when I looked at the FSC schedule Arsenal were scheduled to be broadcast every weekend for the entire month of March. Now that’s changed and this Saturday’s game is actually going to be shown on FS+ much to the chagrin of Yankee Gooners.
Don’t despair, there is an option! Fox has a pay internet stream available of the match over at Fox Soccer TV. I don’t know what kind of schedule they are going to have over on that web site yet, but it’s just $5 to watch this Saturday’s match.
Which seems pretty reasonable since I paid $1500 to fly over and see the same game.
They Call Him Melo Yellow
This year’s winner of the Serie A’s infamous Bidone d’Oro (the “Golden Garbage Can” award) was none other than this Summer’s Arsenal target, Felipe Melo. The £25m Juventus flop played in yesterday’s Brazil v. Ireland friendly at Emirates Stadium and evidently re-kindled Arsene Wenger’s love affair with the player prompting the Arsenal boss to say that Arsenal are still interested in signing him.
It’s pretty odd to say the least, but with the dip in form of Denilson, Wenger could see Melo as a bargain and the perfect player to replace our Brazilian in the Summer.
The Damned United
I don’t know if you’ve had a chance to see The Damned United but if you haven’t you should definitely check it out. It’s a movie about iconoclastic football manager Brian Clough and his time managing Leeds. I’m not going to recount to plot (click the link if you want that) but rather just say that I was struck by the similarities between Clough and our very own Arsene Wenger. Both managers are well known for their outspoken views, their desire to change the English game, and their absolutist view of how football is properly played.
Clough famously took on the footballing establishment and decried the lump and crunch football that was prevalent at the time and though he doesn’t revolutionize football while at Leeds (or the film would be called “The Glorious United” I suppose) he is the only manager to ever win back to back European League trophies. Which he did several years after this story takes place while managing Nottingham Forest.
Anyway, it’s a fascinating story and damn good fun all around I highly recommend the film.
Finally
Right, that’s it for today, Theo Walcott is going to get a run out with the English Nationalism team today and several other Arsenal players will be playing friendlies as well. Wish them all luck and here’s hoping that Theo scores a barbershop.
Final prep for the England flight today, I’m starting to get nervous/excited. More on that tomorrow.
See you then!
Arsenal News 24/7
Awesome! Someone save that video before it gets removed. I really need to watch it later. At work now.
March 3rd, 2010 at 8:23 am
@Patrick,
You can stream it here. it will never be taken down fro this site:
http://www.wisevid.com/play?v=1Az6tgq8fA3c
March 3rd, 2010 at 8:57 am
Thank you, thanks you!
As a Setanta USA subscriber on Dish Networks, my subscription transferred straight over to Fox Soccer + on the same channel number.
DirectTV and DISH have picked up FS+. Manager of the pub I frequent confirmed this morning.
March 3rd, 2010 at 8:21 am
@matt, I’ll talk to Russ today and confirm that to be the case here as well.
Thanks for the update!
I love Andrey Arshavin’s website too.
My favourite is:-
Fan: Hello Andrey. Have you ever been stung on the eye by a bee?
Andrey: No.
Classic!
Really enjoyed this blog.
Really enjoyed AA23′s comments as well, especially about girl’s football: “I think that the level of women’s football is too low to take it seriously”
Every once in a while Bobby McMahon is actually impartial. But once again it shows how most of the FSC crew are so pro-manure, “I’m gonna Roy Keane go get’em!”
Anyone have any idea if Tommy Smythe has weighed in on the tackle? God i hate him and his ol’ onionbag.
My Favorite:
McRussian: Do you have an opportunity to travel a little in your spare time? There are a lot of great places in Britain especially in Scotland)). Come to Scotland (not just to score at Celtic Park), we’ll go north, in the mountains! Or we can go to have a look at the ocean!
Arshavin: Yes, I’ve heard a lot about it. But I’m afraid I won’t be able to come. A trip like this takes at least 3 days: two days for the road and one for sightseeing. The team has no more than 2 days off. Somehow I feel that we won’t go to Scotland even after my career is over.
i got fox soccer plus!! it just replaced the channel where setanta was. i have Direct tv, by the way.
In regards to the pay stream from Fox, I looked at the quality and some of the ustream, sopcast, tvu streams are just has good as that. Guess it just depends if you have the patience to scan the internet for the right link/channel.
Where is Alex when you need him eh?
I like Bobby. His comments are usually logical and reasonable – AND i believe he had picked Arsenal to win the league this season before it got started… kudos!
So much for my Setanta-i subscription which i renewed only 4 or 5 months ago! Hopefully those guys will give me back my fair share the payment. In the meantime, the FS+ broadband site looks pretty decent. Thanks for the link and have a great trip!
March 3rd, 2010 at 10:26 am
@nycgunner, Yeah when he picked Arsenal for the league he became second, behind nick webster, as my favorite fsc pundits.
March 3rd, 2010 at 1:11 pm
@TxGun, Bobby is a Gooner so his prediction doesn’t surprise me
Great vid. The best sumation of it I have heard. It wasnt pro-Arsenal, but put the facts right there and called it as it was…a scythe and an assault.
I just got done listening to Bobby, and I just have a new found respect for him now. especially when ask he didn’t “intent” you could see his body language saying “Intent..my ass..it doesnt F%%in matter.”
1) Gotta love Bobby. I think he’s the best pundit in the media. Always objective, charming and has statistics to back up his claims rather than personal speculation. It’s really too bad that the FSC in Canada is absolute trash because I miss Bobby on the FSC Report.
2) Melo is still an Arsenal-like player. My friends who are Juventus fans say that Melo’s unconvincing performances this season are down to simply being on Juventus. There’s very little talent on the Juve squad compared to the Brazil national team. Melo basically has to try to play with only 1 or 2 technically gifted players and that is not going to ever win you games. Melo always looks confident and composed for Brazil simply because there’s alot of talent on the team. With Denilson polarizing opinions, perhaps Wenger is finally ready to say that he isn’t that good.
3) The Damned United is very entertaining. Michael Sheen’s Brian Clough has this old James Bond kind of twistedness to him and you can see his obsession with Don Revie very clearly. Highly recommended movie.
now FSC+ on cable then…fucking typical. God I hate Comcast…
March 3rd, 2010 at 10:44 am
Try using Time Warner. I think you will suddenly have a new found respect for Comcast.
Cable companies are absolutely worthless… and you wonder why they are going broke. Unfortunately most apt buildings in NYC dont even let you get satellite. The whole thing is shambolic.
March 3rd, 2010 at 11:46 am
@nycgunner, i recently switched from time warner to ATT u-verse and it’s like night and day. But from my time growing up on Long Island, nothing is worse than cablevision!
March 3rd, 2010 at 12:36 pm
@TxGun, I’m in CA chaps…no Time Warner here… it’s Comcast or Sat…U-Verse isn’t available everywhere yet…pah..
March 3rd, 2010 at 1:26 pm
I dont think I even have that option. The ATT U-Verse site doesn’t even recognise my address! Oh well.. FS+ it is.
March 3rd, 2010 at 2:14 pm
@nycgunner, I heard Verizon FiOS is in nyc. My sister is in Queens and got it hooked up this weekend, sick download speeds and great HD.
March 3rd, 2010 at 3:19 pm
i actually checked it out earlier but that’s not available either. the TW f***ers have some kind of a deal cut out with my building. sucks!
Mate, I like your blog. It’s different in terms of style, approach and views presented. Keep it up and enjoy the game!
Hey Tim,
Can you send me a copy of the Arsenal financial report or send me a link?
I did get an MBA with an emphasis in Finance from good ‘ole UWT. Not sure if that means anything, but maybe I can make sense of it.
Enjoy your time across the pond.
Cheers,
Michael
March 3rd, 2010 at 4:20 pm
@Mike Bottorff, Hey Mike! How are you?
The link is in the article above.
tim, do you want to hook up for a pre/post beer day of the game, email me and i will give you my mobile number,we can talk about our 4-0 victory and top of the league status,well only until manure beat wolves a couple of hours later
I’m surprised Arshavin hasn’t included his “Russia’s Most Owliest Player” award on the list of his accomplishments on his website.