Despite the Gunners asking their players and staff to take pay cuts, it seems that the club’s owner Stan Kroenke is doing more than fine, even in this pandemic.
Kroenke’s Arsenal asked their players to take a 12.5% pay cut to save the club from financial trouble for the next year, but it seems that he is still raking in the cash on a personal level.
This is because Kroenke has seen his wealth increased by more than £300 million since the start of the year despite the coronavirus seeing several businesses and individuals struggling around the world.
A new study commissioned by Inequality.org into the wealth of Kroenke and other wealthy individuals showed that he is now worth around £8.1 Billion after making more than £300 million this year, and his wife’s wealth also grew by almost £100 million.
Kroenke has come under fire for not splashing the cash since he became the majority owner of Arsenal.
The Gunners have occasionally signed top players, but that has been sandwiched by selling their top players and hardly replacing them.
They have already told their staff not to expect any big-money signing in the summer, yet they hope to compete with the likes of Chelsea’s whose owner isn’t shy about spending.