Yet more proof that Kroenke has little interest in Arsenal

It has been reported in The Sun today that our own owner Stan Kroenke has put not one penny into the club over the past five years. Does that come as a surprise? Nope not one little bit!

The money we have been getting has reportedly come from the clubs earnings over that period. So no wander now that we are in a pandemic, we are struggling to make ends meet with regards to transfers and player contracts, because the club isn’t earning any match day revenue, which I’m assuming would be the place that the earnings would mainly come from.

If it were reported that he did put money in, I think many of our fans would be in shock right now! As we are known as being a team that does not really splash the cash like other teams, it is no wander! No backing from the men above and no funds. What exactly are we getting from Kroenke but a headache?

Kroenke’s lack of support and spending has been the reason that many fans turned on the club over the years, in particular turning on Arsene Wenger when he was nearing the end of his time at the club. But even at the time, the most loyal Arsenal fans were aware that his plans and wants for the club was not in his own hands. Making it clearer now that some players had left because of the lack of leadership from Kroenke. Not once did I blame Wenger, but it was sad to see fans turning on him and protesting for him to go when they didn’t see the actual picture of Kroenke being the fault for our demise.

As the below report from Swiss Ramble shows, Stan Kroenke has invested zilch into the club over the past few years. But although we had no money coming in we made £101m of payments, which was a £40m debt and an interest of £61m, also having to pay KSE which is one of Kroenke’s many companies £6m for ‘advisory services’. So we are fine to pay him and his companies but he cannot give us anything..

As if we didn’t know that we are nothing but a mere little business for Kroenke it had to be splashed all over the news too.

Gooners?

Shenel

44 Comments

  1. Trudeau says:

    I’m no defender of Kroenke but riddle me this. Why is The Sun article focused almost solely on Arsenal when there are a number of teams – including ManU and Spurs – whose owners are equally unwilling to part with their own money. Or have I read it wrong?

    1. Sean Williams says:

      We are Arsenal supporters….we support the Arsenal not other teams.

  2. Simon says:

    Not surprised…. Arsenal problems started the day shares were sold to this man.. With him, our fortunes diminish

    1. Chris Longwe says:

      True but we are fighters and we will survive

  3. Reggie says:

    Kronk isn’t Arsenal owner to put money in, we have a self sustainable business plan, which is fuelled by revenues from outside sources and sponsorship. The only time he will put money in is to save his investment, not to win trophies. Why do people keep bringing up the obvious, he isn’t investing in trophies or leagues, that is not why he bought Arsenal. He will only make sure his investment is safe.

    1. Reggie says:

      When we win anything it will be because of the model, not him buying it.

      1. Reggie says:

        He has paid off our last debt, so he has freed up money to spend, which we would not have if he hadn’t. As i understand it we are debt free, as such.

        1. ozziegunner says:

          Reggie, you are correct. Kroenke Sports & Entertainment have bought out all of Arsenal FC’s external debt to banks and other lending institutions. They own the Club outright in its entirety and can do with it what they want.
          From all the evidence they have not taken any funds out of this Club since the £3 million “management fee” ceased.
          My complaint is the Board and senior executive KS&E have either retained or selected, who have mismanaged the financial and player assets of Arsenal Football Club. Where has the Champions League and Europa League money gone? Why do Edu and Vinai state during interview that Arsenal does not need to sell players to buy, yet in 8 weeks there has been only Willian (free) and Gabriel (£26 million) in, and Greenwood (£1.5 million), Martinez (£20 million) and lately Torreira (€25 million) out, while Arsenal procrastinates on Partey (€50 million) and Aouar (€60 million)? How much does Arsenal have in cash reserves (some reports £200 million)? What is the real reason that 55 staff were handed redundancies just to save £2 million wages per annum?
          There has been virtually no discussion on JA of Vinai and Edu’s assertion that Arsenal does not need to sell before buying, no discussion of Arsenal’s true financial situation, yet it is easy to blame the owners for not spending more money on an asset they own lock, stock and barrel.

          1. Matthew Shannon says:

            The reason players havnt come in is because we need to move players on first. With teams not buying that makes it impossible. Martinez would be eligible for home grown having been at club 11 years but that doesn’t let us bring in Partey or Aour. Selling Torriera will do that and I think you see Sokratis let go for free to free up space for replacement keeper. That still leaves us having to move a foreign player to bring in other midfield target which is why they are trying to get rid of Guendouzi but he has refused two sales already which is why the clubs looking at Bellerin possibly to go because it will be a easy and quick sale.

  4. Sean M says:

    Ok, so let’s make sure everyone understands this (because it seems the Sun don’t).

    KSE (Arsenal’s parent company of which Kroenke is the CEO) paid off £120m of the club’s debts. Bonds are basically long-term loans; the owner of a bond is lending money to the originator. Now Arsenal, instead of owing these bondholders, owe KSE at a lower interest rate (cheaper debt). This means loan repayments (that the tweet cites) are reduced and, I would imagine (otherwise there would be no point in doing this), spread over a longer period. The result in extra cash that would otherwise have to be used to repay debts, can be spent. Although of course there’s no guarantee that it’ll be on transfers, the owner has literally just dropped £120m on consolidating debts.

    Wait until the end of the window, then let’s make an assessment.

      1. ozziegunner says:

        👍 👍

  5. RSH says:

    He’s awful. I understand the self-sustaining model, but you should still invest to keep your asset desirable. I really had hoped this summer would spur a change since Josh is more involved and Arteta has inspired real confidence in Arsenal being able to do big things. Then I remember Stan only sees us as a dollar sign, not an actual club with ambitions to win trophies. And he cares even less about the opinion of any breathing fan. Dont own Arsenal if you do not care. When we Get rid of this loser will be a glorious day. He has a horrible reputation and throws his money at Numpty Trump too. Ugh.

    1. SueP says:

      Both you and Sean above make really valid points
      Weirdly, throwing money at a club doesn’t always get the desired results – that is if you are referring to trophies. ManU have spent fortunes with little success in recent years
      I’m no Kroenke fan but there are plenty worse owners.

      1. RSH says:

        His main benefit is that he’s so absent and disconnected from the club he’s unable to actively sabotage it.

        1. SueP says:

          Interestingly put
          It definitely feels like he’s not engaged but in some senses he clearly is. If Arsenal manage to move up the league this year into a decent finish with an almost rookie manager then Stan will be vindicated. Pep might be having a wobble and Liverpool had a wake up call. Thank God the EPL is a mostly properly contested league. Money is wonderful but success is not always guaranteed Stan has managed to protect his investment thus far

          1. RSH says:

            How will Stan be vindicated? He didn’t do anything… I think you want to give him a lot of credit he doesn’t really deserve. We don’t even know if he even had any input on Arteta’s appointment. And money doesn’t always buy success, but it can, it has, and it’s very useful. Chelsea and Man City are only relevant because of money and they consistenly win big trophies. it’s nice that we get to pretend to hold onto our purity by saying we dont have someone pumping money into the club, but it doesn’t mean much when you aren’t winning. Fact remains stan owns one of the biggest clubs in football and has zero passion for football. and that alone is enough reason for me.

          2. SueP says:

            RSH
            Can I refer you to Frank Brady’s post below which is a far better attempt than mine
            Chelsea and ManU have thrown fortunes at winning and as more clubs get wealthy owners, the chances of winning big decreases. Both of the above have had mixed fortunes recently so my point about Kroenke as being vindicated stems from the fact that Arsenal is run as a business and after a horrible dip there is a sense the club is on the rise and will compete again. Transfers are vital but big spending clubs need good – really good – managers to succeed. Liverpool proved that a well run club at executive level combined with a top manager can do well. I readily admit that Kroenke should have done better but with Raul gone and Arteta and Edu working together it seems that steps are being taken. Ozziegunner below puts it well too. That said, I don’t like his disinterest in us – it goes against the essence of being a supporter.

        2. ozziegunner says:

          RSH, he appears to allow the people he employs, the Board and senior management (excluding Mikel Arteta) to actively sabotage it.

  6. Sean Williams says:

    I’ve been an Arsenal supporter all my life, and that’s a long time. But I’m just as avid and enthusiastic as all the wonderful, hopeful, young supporters we have. We are so close to having a great side, just a couple of quality midfielders away. So now Kroenke can show us if he believes in our Club, our Team and all of us Supporters. If not he should $$$$ off.

    1. ozziegunner says:

      Sean, also a long term supporter, I haven’t access to a spare £2 billion +, have you?
      Why do Vinai and Edu say one thing, that Arsenal don’t have to sell in order to buy, then act the opposite?

  7. Robert Acedius says:

    Does Stanley Kroenke exist? I wonder. Probably he is just something made up by media. Probably he is a part of a major conspiracy of all those who hates Asn’l. Now and then there are appearing pictures of a quite shabby guy (+70), sometimes with a younger person with no characteristics, presented as his son, but this can’t be the multi billionaire who owns this great club. No way. There are no Stanley Kroenke! It is as simple as that. He have never existed. That could explain his absence. That explain why he seams so mysterious. Stanley Kroenke is the Phantom of Ashburton Grove.

    1. jon fox says:

      AMUSING BUT POINTLESS POST. AS A WHIMSY IT IS OK but serious minded fans will say its nonsense!

  8. RFrancis says:

    I just feel that this awful banner has sadly become part of our DNA. It is such a strong symbol of division and strife within our club.
    It’s so unfortunate.
    And who is this Swiss Ramble? As far as I know, this information, on its own, is misleading, confusing and completely worthless, especially if it is taken out of context.

  9. Frank Brady says:

    Sean and Ozzie gunner have written more accurate posts here, than stated by the Sun’s piece of Click bait.
    We had a self sustaining model under Wenger, a model we were pretty proud of, whilst the likes of Chelsea, Man Utd, and City threw huge amounts of money at winning trophies.
    We were also no slouches in the spending department, but I think we’d all agree some of our purchases did not work out.

    Last year we were making exactly the same noises. We ended up with a reasonable transfer window under a boss who possibly didn’t know quite what it was he needed.

    This year we are on track. There is still along way to go in this window, Martinez (sadly) and Torriera look like being close to done. These deals I’m sure will see a big signing coming in.
    Will it be 2? Do we need both Partey and Aouar? Time will tell.
    Patience fellow Gooners, its all coming together quite nicely

    As an aside, I’m pretty sure the Boss stated previously that he has an open line to the Kroenke’s. Perhaps they do care, certainly more than The Sun!

    1. ozziegunner says:

      👍

    2. Quantic Dream says:

      But why should Kroenke put in his own money into the club? He bought the club to make money, not lose it. Our interests as fans do not supersede his as owner. If Kroenke today sold all his shares to the 60k fans that used to go to the Emirates Stadium on matchday, who are supposedly “real/true” fans, you will see quickly they will stop caring about trophies and will be more concerned with the club’s financial performance. Anyway, how ridiculous is it to demand that someone spends THEIR MONEY on what YOU WANT? Nobody has any right to tell Kroenke what to do with his fortune.

      1. Quantic Dream says:

        Sorry @Frank Brady, my comment was just a statement and not a reply to you, I don’t know why it ended up here.

        1. ken1945 says:

          Frank Brady, what a positive and clear post.. thank you.

          As far as I can remember, The Arsenal has always been a club that managed within its means and therefore got the tag of Bank of England.

          The “self sustaining” wording, is just a new way of telling one how to run a successful business and for Silent Stan that is what he wants.
          We can go on about how he has no interest in the club as far winning trophies is concerned, that doesn’t change a thing.

          As fans we have a different mind set completely of course, otherwise there would not be a reported waiting list of thousands of fans – if kronkie is the devil incarnate, we would have all departed and let him do whatever he wants.

          We can only hope that Dangote lives up to his word and buys him out, as he is, supposedly, a fan like us.
          Until then, we have to accept the “self sustaining” model is here to stay and my love for The Arsenal far outweighs any thoughts I have for Stan Kronkie – after my family, the most prized possession I have is my season ticket.
          Sorry if this might offend some of you, but basically, the club is being run as it has been for decades.
          The difference is, we have one person to blame, not a myriad of shareholders and active board members, wno sold THEIR souls for money, when they let him in.

          1. ozziegunner says:

            👍 And ken these shareholders and Board members thought Kroenke was preferable to Usmanov and forced David Dein out of the Club.
            There are no guarantees that Dangote would be any better than Kroenke from a financial perspective, even if he is a fan. There is still a chance that Josh Kroenke can be converted, if shown the “light on the road to Damascus” .

          2. ken1945 says:

            Absolutely ozziegunner.
            When I remember how we were told that we didn’t need that kind of person (kronkie) at Arsenal, then they all went on the gravy train and sold out their shares – while dismissing the second part of our most successful partnership ever, David Dein. is llke a never healing cold sore for me.

            Not one word of regret from anyone of them, except Lady HW, who complained she sold her shares too cheaply!!!

            I also agree that Dangote is an unknown, as far as how he will support the club financially.

            But his history does suggest that he is a fan of the club and that is the difference.
            I have no doubt whatsoever, that he will want to see a return, if he does buy out Stanley, that is obvious – why some don’t get that with Stanley as well, I just don’t understand.

            The thing that has always bugged me with kronkie, however, is his, seemingly, refusal to see that, by investing in the club himself via transfers, he will make more money via CL, top four finishes and even the title itself.

            Still, he is the billionare and I’m just a crazy old Arsenal fan!!!

  10. Clive says:

    Didn’t we move stadium to compete well why are we not competing then and you can’t use the plandemic as an excuse Chelsea are spending wolves are spending even Everton are splashing the cash if I want excuses I would listen too politicians but this board have been doing this since 2006 and I don’t see it changing till he kronekee is gone from our club

  11. Madhu says:

    Why can’t stan provide money for Partey and Auoar now and take it once the player sales happen later in the window. Why should you wait for sales and then invest in players we want. This is what I have been grappling with. We have identified targets for both Buy and sell. It’s not investment but money made available when needed and paid back after sales.

    1. ozziegunner says:

      Edu and Vinai have publicly stated, that Arsenal doesn’t have to sell to buy; however actions speak louder than words.
      As Clive says Arsenal supporters have been sold a lie since 2006, when the Club left Highbury and spent a fortune building the Emirates to compete with not only the top clubs in the EPL, but PSG, Bayern Munchen, Real Madrid, Barcelona and Juventus.

    2. Matthew Shannon says:

      You do realise we have to move players to bring players in? Both Partey and Aouar are foreign players not homegrown that’s why we need to move on foreign players three to be exact if we want Partey, Aouar and replacement for Martinez in Runa.

  12. Elias says:

    Arsenal is asset for mr owner . They can borrow money using arsenal as a company and use the money for other assets . These people have no moral they just do business they don’t care about the club and the funs all over the world . It is a shame but welcome to America . People and moral …… don’t exist

    1. ozziegunner says:

      Not just America.

  13. Jay Alenby says:

    There are many reasons not to like the Kroenke’s. They simply don’t understand that Premier league clubs are not to be run as businesses that are profitable. They are meant to be run as ego driven displays of machismo. If you don’t win trophies, then you are a failure and perceived as weak. You are disrespected and publicly ostracized. They need to splash cash or sell to someone who understands the culture.

    1. Robert Acedius says:

      In March next year Aliko Dangote will bid for ARSENAL FOOTBALL CLUB. And we get rid of the Ghost that have haunted this great club for ten long years.

  14. ben says:

    Surely under FFP he isn’t actually allowed to put any money in as we are only allowed to spend what we make

    1. Sean Williams says:

      Delusion mate. FFP has never really been followed. Proof….read the bloody papers.

  15. Sean Williams says:

    Kroenke’s method of running Arsenal is different to all other big businesses. Like Trump he made his money as a Chancer. He brown nosed all the Arsenal shareholders/directors for years, with lies, and now is SOLE OWNER in reality. If he lends money to Arsenal……he lends it to himself. Big businesses like Proctor and Gamble, Unilever, Apple etc, etc, invest money in their businesses. They market new products with big money big advertising. To all of you Arsenal supporters who make excuses for Kroenke, you damage our club. The only good Kroenke for Arsenal is a GONE Kroenke or a Kroenke who has had an Epiphany. Kroenke is supporting his LA Rams with billions of $…..he is supporting us with a bizarre project of ‘maintenance’ rather than ‘growth’. It is doomed to failure. Kroenke has killed Arsenal and the supporters hopes. He is a slimy chancer, now and then.

    1. ozziegunner says:

      Sean, it’s not about making excuses for Kroenke, it is accepting the real world situation that I, and the vast majority of Arsenal supporters, don’t have the necessary £2 billion + to buy out KS&E.
      On such a basis, to accuse people of damaging the Club is ludicrous. You need to read up on “serenity” from St Francis of Assisi.

  16. Toyin Badmos says:

    The problem is not Kroenke alone. It started when all those guys who said they had Arsenal’s interest at heart sold the club to him those years ago. Usmanov was there waiting to pay more for the shares but they all planed against him. The Lady Nina Bracewell and the rest need to hang their heads in shame. With this useless owner,Arsenal will never ever progress even with Guardiola at the helm. The fans need to force them to spend whatever way possible.

Comments are closed

Top Blog Sponsors
JustArsenal Top Ten UK Blogs