Opinion – Wasting money on David Luiz shows that Arsenal has been making the wrong money decisions all along

Arsenal suffered their first financial loss in 17 years when they reported a deficit of £27.1 million for the financial year ended May 31, 2019.

The Gunners have also asked their players to take wage cuts in their bid to save some money and cushion the economic effects of the coronavirus.

However, before the coronavirus outbreak and the financial reports were published, the Gunners signed David Luiz from Chelsea as they looked to add to their defence.

The Brazilian hasn’t made the team better, but he has definitely become richer and he has also made those who worked to make the move happen richer.

A new report claims that apart from the £8 milion fee the Gunners paid to the Blues, they also paid £6 million to agents who made the deal happen, before giving him a contract worth £10 million for just a season.

The Gunners would have spent a whopping £24 million on the former Benfica man at the end of his contract this summer.

As an Arsenal fan, I cannot help but wonder the wisdom in spending that much on a 33-year-old that was already surplus to requirements at Stamford Bridge.

It just shows how the club has been mishandling funds and throwing money around, considering that they signed William Saliba for £27 million and never brought him in to help a defence that needed help.

It is clear to me that our current financial struggles are mostly self-inflicted considering how we have been spending our money.

This Luiz idiocy is just the latest in a massively long line of utterly incomprehensible financial decisions. If we ever needed confirmation that we are one of the worst run clubs, this is surely it.

An article from Ime

Tags David Luiz

8 Comments

  1. GB says:

    If we didn’t agree to Saliba going back in loan we couldn’t have signed him. As for Luiz, I think he’s a good player and a leader, especially for the younger players but if the amounts paid to agents are true then I agree we have been financially negligent.

  2. jon fox says:

    There can be no serious doubt among real thinking fans that our club has been spectacularly misrun financially speaking for many years past. And stupid and amateur money decisions, wasting huge amounts are still being made today. MANY OF OUR SIGNINGS HAVE BEGGARED BELIEF. I am seriously beginning to think that even my cat could make better decisions.
    The Saliba decision though is, I believe, an exception. Not all decisions have been bad obviously but far too many have. How could we otherwise end up with the three clowns as our most regular CB choices til now. Get rid of ALL the clowns!

  3. Top Gunner says:

    There are players that money is wasted on, not Luiz. Luiz does not make as many mistakes as Xhaka and Mustafi. But for Ozil, he just runs around like a headless chicken. Money is wasted on these three players

  4. Sue says:

    I thought things would improve slightly once Gazidis left…. 🤔

    1. ken1945 says:

      Sue, I thought it was all down to Arsene Wenger!!!

      When the cry of “We’ve got our Arsenal back” was shouted from the rooftops as gazidis took over the contracts, signings and salaries over two and a half years ago – it seems that kronkie and gazidis (via his new regime) were the culprits all the time, but of course, this will not be recognized by those who want to blame AW.

      Let’s all remember the date when gazidis introduced Sven Mislintat, Hussy and Raul Sanllehi to take over transfers, contracts and salaries from Arsene Wenger and himself – it was JANUARY 2018 – the same time Ozil was offered his new contract and Auba was signed and reportedly earning £200,000 a week – no coincidence there then!!!

      Gazidis also introduced Unai Emery to the club, before he left six months later for Milan.

      This Luiz eye opener, if it is true, yet again shows the parasites known as agents, continue to bleed football dry and what gazidis has done to our club continues to be uncovered with every new scandal.

      1. Sue says:

        I can’t believe he was with us for so long, Ken…..10 years – what did he actually achieve in that time? I guess you could say he did a grade A job of screwing us over… and it’ll take an age to put all of that right!
        From what I’ve seen, it’s deja vu all over again in Italy.. I guess at least he’s consistent….. smh!!!

      2. jon fox says:

        Being a decent human being I never wish anyone dead. But if I were otherwise, the three in order of being rid or far better still, never born in the first place, would be Trump, Kroenke and then Gazidis (retrospectively, ie not now but back then). The first is the enemy of the planet and humanity. The latter two are the enemies of Arsenal – and in Kroenkes case, the enemy of much else too.

  5. GunnerSince2004 says:

    C’mon, do the maths. The bloke was earning a reported 125,000 per week. Multiply this by 52 weeks that’s 6,5mil for his salary. Where’s this 10mil salary figure coming from???? Unless he was earning 193,000 per week.

    Fake news.

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