The coronavirus pandemic has hit so many teams very hard financially, and Arsenal is one of the teams to have felt the impact of the pandemic.
Whilst the total impact of the pandemic on the club’s finances is not yet ascertained, the Gunners have already asked their players to take pay cuts to help the team.
The pandemic is also expected to affect the club’s business in the summer, and some fans have been calling on the club’s owner to inject some money into the club and help at this difficult time.
It seems that Stan Kroenke has heard our pleas, and he has reportedly made some money available to the club to help them reduce the impact of the coronavirus pandemic.
A report on Mail Sport claims: “In a notice issued on the London Stock Exchange, the Gunners have confirmed their intention to redeem bonds linked to the construction of the Emirates Stadium, financed by a loan from Kroenke Sports Entertainment.
The injection will give the club greater freedom in how they balance their finances during what is an uncertain period following the global pandemic.”
It, however, added that it is unclear if the injected funds would have any bearing on Mikel Arteta’s spending power in the next transfer window.
The Gunners have been in fine form at this end of the season and if their form helps them get into the Champions League places, then they would be offered more money to play with in the transfer market.
Take him back gladly
Been waiting for this news ever since the players took a wage cut to help kronkie out.
It will be interesting to see how much he puts in compares to what the players wage cut saved him.
Sorry if I sound like one of the doom and gloom merchants I criticise on here and if the money does materialise and it’s way above what the pay cut has brought him, I will apologise profusely.
As to your final line Ken, then you will not be needing to “apologise profusely” as I am sure you knew when you wrote it. I know it too. Kroenke will give nothing from the goodness of his heart. He has NO heart! I snorted with derision at reading this comment made by him.
FAIR ENOUGH THOUGH FOR THIS SITE TO REPORT IT BUT ONLY NAIVE FANS BELIEVE IT HAS ANY CREDENCE. I still expect him to be financially forced to sell up within two years from now. The champagne is already on ice.
Jon, you see through my disguise!!!!!!
Good detailed post from jimmy james below, much more informative than our two “gut feelings”, but with the same outcome that you and I expect, it seems.
Let him help the team in this situation has man utd is doing we also wants to have the piece of joy let him buy players to strengthens the team
Kroenke owns Arsenal F.C. and for an owner of anything be it a shop pub whatever not to do your best to help it to get through tough times is not what business men do, so I would like to think that what Arteta needs he gets and Arsenal will be back on track to get in a position to fight for the winning of the league in two or three years, so lets stop all the slagging off of the Kroenke’s and give them and Arteta a chance, a break, a bit of support, we are Arsenal and they are with us, support the club, team, manager, ONE NIL ARSENAL
How naive, where Kroenke is concerned. Fine comments in theory but they lack credibility, as he has no plans to financially help Arsenal at his own personal cost., He has not put in a single penny over 13 years so he will not begin now. If he were intent on putting money into OUR club rther thn drainingit of funds he would havedone so long ago. Words are cheap; as a older wiser fan I look at actions. Or lack of them! I recommend it to you !
This is very good news. I think the way forward for the Club will rest on where we finish in the league. As a big club however, AFC should be prepared to take advantage of the relaxing of the FFP rules and significantly improve the talent pool at the cub. In terms of talent pool AFC currently lags behind the likes of Chelsea, Man U, Man City and Liverpool. Now is perhaps the right time to fix this.
I don’t think this is something to get too excited about. It’s probably worth having a look at the Arsenal Supporters Trust site If you want to find out a little more. If I’ve understood things correctly, we had 2 mortgages outstanding of £144 million. Kroenke has agreed to pay these off early and replace them with a loan of his own. According to the supporters trust, there is a penalty for redeeming the mortgages early of £40 million, so the new loan with Kroenke will be approx £184 million. The advantage to us is that the Trust believe (but don’t know) that the interest rate on the Kroenke loan will be lower than the old loans so our repayments will be less. In addition, we won’t have to set aside the £36 million cash security that we currently have to do to comply with the old loan rules. This will give Sanllehi and co more room to manoeuvre whilst they grapple with the serious financial crises brought about by Covid. It is unlikely to mean more transfer funds. Sorry for the long post.
Jimmy james, Please never apologise for writing the truth. This is a fine post and shows how that snake Kroenke uses Arsenal to make yet more money for himself while fooling some naive, unbusiness minded Gooners into thinking he is Santa Claus.
He is a rapacious, dangerous, shark and we need him out of our club. I believe – speaking as a person who has spent a lifetime in senior level business and finance – that the strong likelihood of the Covid financial aftermath will mean he is forced to sell up our club within two years from now. I also believe he is well aware of that being forced on him and will try, but ultimately fail, to keep ALL his franchises going.
With the dangerous twerp who runs USA making the USA eonomy far worse than it would otherwise be, by his cavalier attitude towards Covid, the USA will suffer far worse than most free world countries and Kroenke will be well aware of that right now. HENCE THIS FINANCIAL PLAN AND STATEMENT DESIGNED TO FOOL THE NAIVE FANS AMONG US.
Absolutely Jon and weren’t the three players who refused pay cuts until they knew what the money was going to be spent on, just as wise as those you refer to as well?
Jimmy your explanation concerning the consolidation of the loans confirms information available from other sources. This action appears positive; however time will tell whether funds are reallocated to rebuild the team.
My biggest issue with Kroenke is his lack of personal involvement and poor choices of Board and senior executives to manage Arsenal’s player and financial assets.
You have to be ridiculously `positive` or unacceptably `negative` in this modern 21st century. The days of good commonsense have passed us by. Like many other things `greed` has cost us a reasonable and contented life style. The likes of Kroenke , and there are thousands, destroy as they accumulate.We can never enjoy our football as long as people like him control our game. Ask me how you cure this infestation is much like asking “how do we cure cancer”, I simply don`t know.
Contentment is something I understand now whereas in my more youthful past I was greedy for lots of things
Kroenke is greedy for money as you point out regardless of consequence – destroy to accumulate – great words of yours.
I wonder if he will reach a point that the balance shifts enough and he has to sell?
I’m sure he has accumulated more than enough on the value of Arsenal since he bought it. Or is it never enough?